This book provides a fully revised and up-to-date analysis of the Economic and Monetary Union (EMU). With four entirely new chapters on responses to the financial crisis and the debate on reform options, Tomann assesses the EMU in comparison with other currency regimes through the adoption of a...

This article takes a Keynesian view on the evolution of the European debt crisis and the drift of political activities. It refers to Keynes The Economic Consequences of the Peace which in terms of methodology points at the fundamental uncertainty enshrined in the relationship between money...

This paper studies the financial barriers to ownership entry in Austria and Germany. In both countries the financial institutions are similar but there are differences as to public assistance, mortgage markets and risk allocation. Various risk shifting mechanisms between borrowers, banking and...