The Dark Side of European Monetary Union PDF Download

Author: Susanne Lohmann
Publisher:
ISBN:
Category : Banks and banking, Central
Languages : en
Pages : 48

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Author: Michele Fratianni
Publisher: Westview Press
ISBN:
Category : Political Science
Languages : en
Pages : 272

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Book Description
When the European Monetary System (EMS) was created in 1978, economists on both sides of the Atlantic predicted its inevitable and early failure. But today EMS is alive and well, continuing to defy conventional economic wisdom. Professors Fratianni and von Hagen address three questions raised by the success of EMS: how it was created, how it works, and how it may evolve into a full-fledged monetary union. They answer these questions in the context of international economics, explaining why countries with very different rates of inflation might be willing to link their currencies and exploring the choice between a currency union, in which several countries adopt the same money, and an exchange-rate union. They also seek to understand whether members of the European Community should all adopt the same currency. If so, what kind of adjustment process would be best - a gradual transition or a fast one? Their presentation is always clear and evenhanded, a model of empirical research and theoretical sophistication. This is an essential book for scholars of European integration in particular and of international political economy in general.

Author: Alina Polyakova
Publisher: Columbia University Press
ISBN: 3838267966
Category : Political Science
Languages : en
Pages : 182

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Book Description
Across Europe, radical right-wing parties are winning increasing electoral support. The Dark Side of European Integration argues that this rising nationalism and the mobilization of the radical right are the consequences of European economic integration. The European economic project has produced a cultural backlash in the form of nationalist radical right ideologies. This assessment relies on a detailed analysis of the electoral rise of radical right parties in Western and Eastern Europe. Contrary to popular belief, economic performance and immigration rates are not the only factors that determine the far right's success. There are other political and social factors that explain why in post-socialist Eastern European countries such parties had historically been weaker than their potential, which they have now started to fulfill increasingly. Using in-depth interviews with radical right activists in Ukraine, Alina Polyakova also explores how radical right mobilization works on the ground through social networks, allowing new insights into how social movements and political parties interact.

Author: Francesco Farina
Publisher: Routledge
ISBN: 1134109385
Category : Business & Economics
Languages : en
Pages : 238

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Providing readers with a multi-faceted assessment of the implementation of fiscal policies in the euro zone and their macroeconomic effects five years after the inception of the euro, this book, international in perspective and scope, is the first reliable reference source for discussions in this area for both academics and policy makers. Comprising contributions from distinguished researchers from different European countries and institutions the issues addressed include the: monetary and fiscal policy-mix evolution and control of fiscal aggregates over the business cycle and their implications for the SGP rules accountability of debt evolution financial spill-over of national fiscal policies measurement and assessment of automatic stabilizers. Based on empirical evidence as well as being firmly rooted in theoretical analyses and giving particular emphasis to the constraint of the Stability and Growth Pact on the one hand and the presence of a single monetary policy on the other, this book is an invaluable tool students and researchers engaged with macroeconomic stabilization and monetary and fiscal policy interactions, as well as professionals in the public sector and the financial institutions of the EU.

Author: Carlo Spagnolo
Publisher: Cambridge Scholars Publishing
ISBN: 1527565548
Category : Political Science
Languages : en
Pages : 450

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Book Description
European integration has long defied previous notions of state sovereignty and has since the days of the Coal and Steel Community been conferred with original supranational instruments. Yet the Treaty of Rome did not raise the same popular reactions as the Maastricht Treaty about the infringement of national sovereignty. This book suggests that the end of the Cold War has modified the functions of European integration so that the original ideals of integration have lost part of their appeal; hence the birth of the European Union can be regarded as an attempt to seek a new legitimacy. How far did the EU Treaty meet this unprecedented challenge? This book argues that the Maastricht Treaty established a constitutional framework for a new kind of polity without resolving the issue of its purpose and scope. The volume seeks thus to explain some of the reasons for the defeat of the Constitutional Treaty in 2005 dating them back to the Maastricht Treaty. In so doing, the book links the actual state of European integration with the decisions taken at Maastricht in five different realms of supranational policy-making. The first is the constitutional setting of the EU Treaty and its effect on national constitutional law; the second is the concept of governance and the changes introduced by the Economic and Monetary Union; the third is the historical background of the Maastricht agreement; the fourth the political economy of the Economic and Monetary Union; the fifth is the impact of European citizenship in the recent case-law of the European Court of Justice and the prospects of a EU politicisation. The book puts in perspective the solutions to the recent stalemate of the European integration process offered by the Lisbon Treaty.

Author: Leila Simona Talani
Publisher: Springer
ISBN: 303005117X
Category : Political Science
Languages : en
Pages : 232

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Book Description
Firmly rooted in the International Political Economy (IPE) tradition, this book addresses the negative consequences of globalisation, what is termed here the ‘dark side of globalisation’. It explores different definitions of globalisation, whether the globalisation we have seen since the 1970s is substantially new, and to what extent it can be governed. Building on these foundations, the work assesses the prospects for de-globalisation. By focusing on this dark side of globalistion, the authors show how the global economic crisis, and its various local and sectorial manifestations, intensified – rather than generated – existing trends. This scholarship provides an account of the current predicament that is both more complex and more persuasive than the opposition between globalisation and de-globalisation.

Author: Lazaros E. Panourgias
Publisher: Bloomsbury Publishing
ISBN: 1847311814
Category : Law
Languages : en
Pages : 312

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Book Description
Banking Regulation and World Trade Law concerns the legal aspects of the interaction between banking regulation and international trade in financial services. The author studies the internal banking market of the European Union, the liberalisation of financial services trade in the World Trade Organization, the accords of the Basel Committee on Banking Supervision and the European Central Bank. The book focuses on the balancing between banking regulation and international trade law. It discusses discrimination and proportionality in national banking regulation, the allocation of prudential regulation and supervision between home and host country, and international financial law-making. The author questions decentralised/nation-based banking regulation and supervision as a foundation for a sustainable liberalisation of international trade in financial services. The book considers various reforms of the international financial architecture, such as the incorporation of the Basel processes and accords into the WTO system, and the setting up of new international institutions by building on the Basel Committees or the IMF structures. The role of central banking in designing the international financial architecture is also explored: the book reviews the ECB's competence over foreign exchange policy and its function as lender of last resort, and treats price stability, banking soundness and representation as critical concepts. The analysis also reveals that the concept of 'prudential', despite its extensive use in banking regulation, has not been defined with adequate precision. In seeking to delineate the interface between international economic law and banking regulation, Dr Panourgias builds on the rich European scholarship on institutional financial issues and the US interdisciplinary approach to world trade law. He also entertains the notion of international financial law as a distinct field. The book will be of particular interest to those concerned with financial law and international banking.

Author: David Marsh
Publisher: Yale University Press
ISBN: 0300127308
Category : Business & Economics
Languages : en
Pages : 361

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Book Description
Drawing on more than one hundred interviews with leading figures associated with the Euro and scores of secret documents from international archives, the author underscores the Euro's importance for the global economy, in particular for U.S. and British economic and political agendas.

Author: Theodor H. Winkler
Publisher: LIT Verlag Münster
ISBN: 364380265X
Category : Globalization
Languages : en
Pages : 212

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Book Description
We live in an age of revolutionary change brought about by globalization and digitalization that profoundly alters the way we live and work. It offers us new possibilities and opportunities, knowledge grows exponentially, medicine and science leap forward, progress is fast. Yet it has its price. There is a dark side to globalization. Our cyber integrity is under attack; the financial markets may enter another crisis; global warming is threatening our future; and conflict and climate change combine with demographic pressures and the lack of economic perspectives in large parts of the Global South to provoke migration at a massive scale. Conflict, terrorism, organized crime, and fundamentalism converge as a threat. Our institutions have difficulty coping; mankind is hard pressed to adapt. Politics become more volatile. Stability is a word from the past. In his new book Theodor H. Winkler presents a fascinating review of the trends that mark the age of globalization we live in, and of the political questions raised by it. He analyzes what are the policy trends in, and implications of, an unruly world, and he makes concrete proposals what should be done to improve our ability to cope with the multiple challenges posed. This is an important contribution to the key political debates of our time. It is a must for diplomats, politicians, journalists, representatives of non-governmental institutions, academics, and anybody interested in politics. (Series: International Relations - Diplomacy - Security / Aussenpolitik - Diplomatie - Sicherheit, Vol. 3) [Subject: Politics, Globalization, International Relations, Climate Change]

Author: Giuseppe Celi
Publisher: Routledge
ISBN: 1134867530
Category : Business & Economics
Languages : en
Pages : 298

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Book Description
After decades of economic integration and EU enlargement, the economic geography of Europe has shifted, with new peripheries emerging and the core showing signs of fragmentation. This book examines the paths of the core and peripheral countries, with a focus on their diverse productive capabilities and their interdependence. Crisis in the European Monetary Union: A Core-Periphery Perspective provides a new framework for analysing the economic crisis that has shaken the Eurozone countries. Its analysis goes beyond the short-term, to study the medium and long-term relations between ‘core’ countries (particularly Germany) and Southern European ‘peripheral’ countries. The authors argue that long-term sustainability means assigning the state a key role in guiding investment, which in turn implies industrial policies geared towards diversifying, innovating and strengthening the economic structures of peripheral countries to help them thrive. Offering a fresh angle on the European crisis, this volume will appeal to students, academics and policymakers interested in the past, present and future construction of Europe.