This book analyses the process of regionalisation and plots its future development. Regionalisation is a common feature of the changing territorial organisation of European states today. Regionalisation alone, however, cannot produce any of the benefits attributed to it without looking into the...

This book examines the Eurozone crisis in light of theoretical and empirical evidence. The first half explores specific theoretical contributions within a framework of growth theory models to examine the two major pillars of the European construction, the European Central Bank and the Maastricht...

This book explores the role of national fiscal policies in a selected group of Euro-area countries under the European Economic and Monetary Union (EMU). In particular, the authors characterize the response of output to fiscal consolidations and expansions in the small Euro-area open economies...

This book calls upon us to rethink and reboot the European Union. The authors dissect the EU’s many vulnerabilities: how some Member States are backsliding on the rule of law, freedom of the press, and control of corruption - and how globalization’s ‘discontents’ are threatening the...

1 Introduction -- 2 What Went Wrong With the Euro?.- 3 Public Debt: Introductory Remarks -- 4 Was the Eurozone an Acceptable Currency Union? -- 5 Preconditions of a Monetary Union -- 6 What Was the Theory Behind the Formation of EMU? -- 7 Will the Eurozone Dissolve Into Its Constituents? -- 8...

This book presents an overview of the economics and politics implemented in the European Union and especially the Eurozone during the crisis of 2008-2012. Although it focuses on these four years, the analysis starts from the establishment of the European Union and covers the period up to the...

Die ambivalenten Grundlagen des Euro -- Die Eurokrise ist eine Banken- und Staatsschuldenkrise, die zur Währungskrise stilisiert wurde -- Krisenmanagement der Regierungen und der EZB und Ergebnisse dieser Interventionen -- Die unaufgelöste Krise – der Euro am Scheideweg.

1. Eurozone Crises -- 2. An 'Optimal' Currency Area: What Could it Mean? -- 3. Why was the EMU Established?: Different Perspectives -- 4. Balance of Payments Imbalances have Become the Achilles Heel of the EMU -- 5. Public Sector Deficit and Debt: Cause or Effect? -- 6. Macroeconomic Imbalances:...

Some Basic Models -- Monetary Policy in Europe -- Fiscal Policy in Germany -- First the Central Bank Decides, then the Governments Decide -- First the Governments Decide, then the Central Bank Decides -- Central Bank and Governments Decide Simultaneously and Independently: Cold-Turkey Policies...

Studies the interactions between monetary and wage policies in the euro area. This book discusses the process of policy competition and the structure of policy cooperation. It also features numerical simulations of policy competition and numerical solutions to policy cooperation