Von Anfang an sollte der Euro mehr sein als eine Währung: Er verkörpert den Wunsch nach Einheit und Frieden in Europa. Doch gut ein Jahrzehnt nach seiner Einführung geht ein tiefer Riss durch Europa. Im Süden bleibt die Arbeitslosigkeit unerträglich, die Wirtschaft liegt am Boden. Der...

Introduction -- The "party period" before the crisis -- The costs and benefits for joining a common currency with emphasis on weaker member-states -- Greece before the crisis : the critical years in domestic politics -- What the imf and EU bodies were reporting for greece during the accession...

The eurozone crisis started in Greece in 2009-10, spread into Ireland and Portugal, and, from there, quickly spread to the larger economies of Spain and Italy. By the autumn of 2011, it threatened the entire global financial system. In Europe's Crisis, Europe's Future, an international group of...

This volume examines the future of European financial centres in the context of economic and monetary union (EMU). Based on original empirical research, it investigates the relative competitiveness of European financial centres, with special reference to London and Frankfurt, in the context of...

Cover; Contents; Title; Copyright; Dedication; Introduction: May Day in Athens; Chapter 1: Now We Are Ten; Chapter 2: How to Blag Your Way into a Single Currency; Chapter 3: At Club Med the Party Never Ends; Chapter 4: The Story of the Swabian Housewife; Chapter 5: Fixing a Debt Crisis with Debt;...

Over the past decades, models of circular and cumulative causation, based on the endogenous relations between prices, exports, and labour productivity, have lost prominence in explaining economic dynamics. We argue that, in the absence of counterbalancing mechanisms, the combination of...

National Central Banks (NCBs) of the Eurosystem pool profits and losses related to monetary policy operations to form the Eurosystem's so-called 'monetary income'. This is then redistributed - i.e. allocated - among NCBs according to respective capital keys (the participation shares of each NCB...