The Economic Consequences of the Euro: The Safest Escape Plan

ISBN-13: 9780367149369 / Angielski / Miękka / 2019 / 212 str.

Stefan Kawalec; Ernest Pytlarczyk; Kamil Kaminski

Opis

In order to save the European Union and the common market, the book proposes an orderly dismantling of the eurozone, and the creation of a new European currency coordination system. The authors make the case that the optimal solution would be to start the process with the most competitive countries exiting the Eurozone first.

Spis treści

List of illustrations. List of contributors. Acknowledgements.
Introduction and overview. Part I: From the success of the European Union and the single market to the euro crisis. 1. The European Union and the single market: Europe’s great success 2. The euro as an intended step towards strengthening the EU and the single market 3. The eurozone at a crossroads
Part II: The significance of national currencies and exchange rate adjustments. 4. Loss of international competitiveness and inability to restore it as a source of the problems of the eurozone’s depressed economies 5. International competitiveness should not be confused with productivity 6. Currency weakening compared to deflationary policy: Two alternative scenarios for restoring international competitiveness 7. The meaning of exchange rate adjustments (bike trip example) 8. The tragic experience of the defence of the gold standard through deflationary policy during the Great Depression 9. Devaluations that allowed countries to escape from crises in the post-war period 10. The cases often presented as the evidence of effectiveness of the internal devaluation 11. Controversies surrounding devaluation
Part III: Can Europe compensate for the lack of national currencies? 12. The search for solutions that will repair and strengthen the eurozone 13. Can fiscal union deliver the tools to improve threatened countries’ competitiveness? 14. What could a more flexible labour market deliver? 15. Can a fiscal union protect eurozone members from future problems with competitiveness? 16. The US, nation states and underdeveloped regions, and the ability of a single currency to function in Europe 17. The optimum community level for a single currency
Part IV: What are the consequences of defending the Euro at all costs? 18. The threat to European integration 19. Conflicts with trading partners
Part V: How to return to national currencies, while preserving the European Union and single market? 20. The euro trap 21. The way out of the euro trap: Germany should leave first 22. The main elements of the strategy for a coordinated euro break-up 23. Impact of the proposed strategy on risks associated with segmentation of the eurozone 24. The special role of the ECB during the transition period 25. The ability to cope with banking and debt crises 26. A new currency coordination system in Europe 27. Europe avoids conflicts with trading partners; Germany avoids a hard landing 28. Who can initiate the dissolution of the eurozone? 29. A new Bretton Woods. Conclusion.
The European Solidarity Manifesto. Bibliography. Names Index. Geographical Names Index.