Eurocritical: A Crisis of the Euro Currency

ISBN-13: 9781349674541 / Angielski / Miękka / 2020 / 275 str.

Roderick MacDonald

Spis treści

Introduction: Europe, the euro and a crisis    

            Europe, the European union and the euro           

            The road to the euro

            Fiscal and monetary policy in the euro zone        

            The crisis      

            Europe in the wake of the global financial crisis

            Outline of this book 

 

A financial and economic crisis in Greece       

Introduction 

The incubation of modern Greece 

The economy in the eighties and early nineties   

            Fiscal Policy  

            Monetary policy and financial deregulation

            The macroeconomic environment 

Slowing productivity growth as a prelude to access to the euro           

On the statistics provided by the Greek government      

Access to the European monetary union  

An apparent boom   

Dynamic of the crisis in Greece      

 

Ireland: from prosperity to crisis        

Introduction 

A condensed pre-history of Ireland’s economy   

The post war history of the Irish economy

            Ideas  

            Actors

            Action and Policy changes  

            1966–1973   

1970s and 1980s     

            Context          

            Politics and policies 

The Celtic Tiger 1993-2007

            A blueprint for economic growth  

            Results           

The onset of the crisis         

            A hiccough    

            Real estate and a few prophets      

            How the real estate boom came to an abrupt pause       

A dynamic of the crisis in Ireland  

 

Spain, the euro and a crisis       

Introduction 

Spain before 2007   

The financial situation of Spain in 2007    

The real estate bubble in Spain, 1997-2008: spurious explanations

The real estate bubble in Spain, 1997-2008: underlying factors           

            The demographic situation 

            Interest rates

            La ley del suelo        

            Corruption of local officials      

            The role of money laundering in launching the real estate bubble       

Financing real estate: the cajas de ahorro.           

Fiscal impact of the crisis    

Dynamics of the financial crisis in Spain

 

How Italy experienced the euro crisis 

Introduction 

A condensed history of Italy’s economy   

The Golden Age, 1953-1971           

            The impact of state owned enterprises     

            The close of the sixties        

The Seventies and Eighties 

The electorate revolts 1992-1994 

Italy in the euro        

A dynamic of the financial crisis in Italy    

Chapter 6 Conclusion: the crisis and lessons for the administration of the euro

Understanding the euro crisis

Overview of this book

Similarities and differences in the crisis experience

Lessons from the crises in Europe

A lesson from the euro crisis

Coda  

Bibliography

Index

O autorze

Roderick Macdonald is Professor of Management and Technology at the École des sciences de la gestion, Université du Québec à Montréal, Canada. He has published books and articles on business strategy in new industries, fundamental economic notions used in business and moral analysis in management. His previous book with Palgrave Macmillan is Genesis of the Financial Crisis.

Blurb

This book critically analyses the crisis of the euro currency from 2008 to the present. It argues that an understanding of this crisis requires an understanding of financial and economic crises in individual countries participating in the euro. It goes on to describe and explain the crises in four countries – Greece, Ireland, Spain and Italy – showing how they differ and together challenge the euro currency by requiring a varied policy response from Europe. Eurocritical is a guide for scholars, students and practitioners of finance and economics.