Europe S Financial Crisis

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Europe's Financial Crisis

John Authers
Europe s Financial Crisis Book PDF

Author : John Authers
Publisher : FT Press
Page : 130 pages
File Size : 42,8 Mb
Release : 2012-11-04
Category : Business & Economics
ISBN : 9780133133745

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Europe's Financial Crisis by John Authers Pdf

Will the Euro survive? Where is the European financial crisis headed? What will it mean for global and US markets? In this short book, internationally respected Financial Times journalist John Authers illuminates today's European financial crisis and the massive forces increasingly buffeting world and US economies. Authers explains why a strong recovery remains far away, why the risk of a disastrous "final" crisis remains terrifyingly real, and how investors can best navigate today's brutally challenging markets. The European Financial Crisis reveals why the 2010/2011 market rallies were so fearful, and why their underlying assumptions -- continued Chinese growth, bailouts, progress towards bank solvency, more easy "Fed" money -- have proven so tenuous. Above all, Authers shows how the Eurozone crisis uncovers today's worst unaddressed risk: the markets' loss of confidence in governments. This brief discussion offers insights into underlying flaws in the banking system and the Eurozone's structure that remain unaddressed; how cheap money and bailouts have bought time that is rapidly running out; and the increasingly frightening signs of "perverse synchronization": forex, equity, credit, and commodity markets massively moving in tandem. He also offers specific recommendations for what policymakers can and must do now to restore the long-term health of the global markets.

Financial Underpinnings of Europe’s Financial Crisis

Nina Eichacker
Financial Underpinnings of Europe s Financial Crisis Book PDF

Author : Nina Eichacker
Publisher : Edward Elgar Publishing
Page : 192 pages
File Size : 49,6 Mb
Release : 2017-10-27
Category : BUSINESS & ECONOMICS
ISBN : 9781786432032

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Financial Underpinnings of Europe’s Financial Crisis by Nina Eichacker Pdf

This book analyzes how financial liberalization affected the development of the financial crisis in Europe, with particular attention given to the ways in which power asymmetries within Western Europe facilitated financial liberalization and distributed the costs and gains from it. The author combines institutional narrative analysis with empirical surveys and econometrics, as well as country-level studies of financial liberalization and its consequences before and after the 2008 Global Financial Crisis.

Institutions in Crisis

David Howden
Institutions in Crisis Book PDF

Author : David Howden
Publisher : Edward Elgar Publishing
Page : 265 pages
File Size : 40,6 Mb
Release : 2011
Category : Business & Economics
ISBN : 9780857932129

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Institutions in Crisis by David Howden Pdf

'An important and timely contribution. David Howden has brought together an excellent collection of essays which go beyond the theoretical discussion of Austrian business cycle theory, exploring instead its empirical relevance to one of the most serious financial crises in modern European history.' – Mark Pennington, Queen Mary, University of London, UK 'This is an important and refreshing book which provides an approach of current problems quite different from what is (too often) written. In my opinion it is the only correct analysis of the economic crisis and of European problems. In spite of the diversity both of contributors and topics, a common and rigorous intellectual foundation gives unity and strength to this book. It offers the clues for the best understanding of present and future economic problems.' – Pascal Salin, Emeritus Professor of Economics, University Paris-Dauphine, France 'The current European recession is being offered as an excuse for a wider, more expansive centralized Europe. Failure to recognize the true causes of the recession – failed institutions that have plagued Europe for years, and will continue to do so if permitted to continue – will prolong the current malaise, and hold Europe back from its new future. Let us hope that the current volume does much to bring this new Europe to us.' – From the foreword by Jesús Huerta de Soto This critical and thought-provoking book explores the causes and consequences of Europe's failed political and economic institutions. Europe's recession has created new challenges as market turmoil has shaken the foundations of the twin pillars of the new drive for European integration – political and monetary unions. This book critically assesses the patchwork solutions continually offered to hold the troubled unions together. Failed political policies, from the prodigious 'Common Agricultural Policy' to ever more common fiscal stimulus packages, are shown to have bred less than stellar results in the past, and to have devastating implications for future European growth. The contributors outline the manner through which European monetary union has subsidized and continues to exacerbate the burgeoning debt crisis. Most strikingly, the interplay between Europe's political and economic realms is exposed as the boondoggle it is, with increasingly bureaucratic institutions plaguing the continent and endangering future potential. Combining political and economic analysis, this comprehensive book will prove essential for researchers and students in international business and macroeconomics. Educated laymen wanting a keener perspective on Europe's recession will also find this book to be invaluable.

The Global Financial Crisis

George K. Zestos
The Global Financial Crisis Book PDF

Author : George K. Zestos
Publisher : Routledge
Page : 326 pages
File Size : 55,7 Mb
Release : 2015-10-05
Category : Business & Economics
ISBN : 9781317627630

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The Global Financial Crisis by George K. Zestos Pdf

Although banking and sovereign debt crises are not unusual, the crisis that has unfolded across the world since 2007 has been unique in both its scale and scope. It has also been unusual in being both triggered by, and mainly affecting, developed economies. Starting with the US subprime mortgage crisis, and the recession in 2007-2009, the problem soon erupted into financial crisis in Europe. A few of these countries came to the brink of bankruptcy, and were rescued by the EU and the IMF on the condition they adopt austerity measures. The detrimental social effects of the crisis in both the US and Europe are still emerging. Although there have been several studies published on the US crisis in particular, there has so far been an absence of an accessible comparative overview of both crises. This insightful text aims to fill this gap, offering a critical overview of causes, policy responses, effects and future implications. Starting with the historical context and mutation of the crisis, the book explores the policies, regulations, and governance reforms that have been implemented to cope with the US subprime mortgage crisis. A parallel analysis considers the causes of the European sovereign debt crisis and the responses of the European Union (EU), examining why the EU is as yet unable to resolve the crisis. This book is supported with eResources that include essay questions and class discussion questions in order to assist students in their understanding. This uniquely comprehensive and readable overview will be of interest and relevance to those studying financial crises, financial governance, international economics and international political economy.

The European Central Bank between the Financial Crisis and Populisms

Corrado Macchiarelli,Mara Monti,Claudia Wiesner,Sebastian Diessner
The European Central Bank between the Financial Crisis and Populisms Book PDF

Author : Corrado Macchiarelli,Mara Monti,Claudia Wiesner,Sebastian Diessner
Publisher : Springer Nature
Page : 197 pages
File Size : 53,7 Mb
Release : 2020-08-25
Category : Political Science
ISBN : 9783030443481

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The European Central Bank between the Financial Crisis and Populisms by Corrado Macchiarelli,Mara Monti,Claudia Wiesner,Sebastian Diessner Pdf

​In light of the handover from the European Central Bank President Mario Draghi to Christine Lagarde in November 2019, this book provides an in-depth analysis of the events which unfolded since the euro area sovereign debt crisis in 2010 up until today. The book focuses on the far-reaching implications of the last decade, shedding light on a wide spectrum of political, economic and financial aspects of the European poly-crises and how monetary policy reacted to these challenges. The book places particular emphasis on the tensions that the supranational central bank was subject to during this period, and on their outcomes in terms of the policies, their legitimacy, and their public reception. As such, this book will be relevant not only to understand the political implications of the past crisis but also, and foremost, in understanding "what is next".

A Global Perspective on the European Economic Crisis

Bruno Dallago,Gert Guri,John McGowan
A Global Perspective on the European Economic Crisis Book PDF

Author : Bruno Dallago,Gert Guri,John McGowan
Publisher : Routledge
Page : 341 pages
File Size : 41,8 Mb
Release : 2018-10-24
Category : Business & Economics
ISBN : 9781317281160

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A Global Perspective on the European Economic Crisis by Bruno Dallago,Gert Guri,John McGowan Pdf

The financial and economic crisis in Europe is not over, and the radically opposing strategies on how to proceed has only increased the complexity of problems in the region, revealing the shortcomings of the EU’s architecture. The European Union, perhaps for the first time in its history of more than seventy years, is being perceived as a threat to the financial and monetary stability of the world. A Global Perspective on the European Economic Crisis explores the connection between internal EU actions and institutions and the external factors that influence the ongoing response to the European crisis. With a unique collection of international and interdisciplinary essays, this book considers the complex macroeconomic and challenging political landscape of Europe, looking at how and why the European Union is untenable in its current state. The chapters outline what should be done to make the common currency area more resilient, and explain why external events are particularly problematic for the EU, ultimately offering suggestions for what Europeans should do in order to avoid harmful internal consequences. This volume confronts the causes of the crisis’ persistence, its economic and political consequences, and the impact of more recent events and policy decisions. It will be of interest to researchers and policy-makers keen to understand the EU relations and the influence of international organizations in the European economic crisis.

The European Financial Crisis

Robert Godby
The European Financial Crisis Book PDF

Author : Robert Godby
Publisher : Business Expert Press
Page : 236 pages
File Size : 52,5 Mb
Release : 2013-11-30
Category : Business & Economics
ISBN : 9781606497074

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The European Financial Crisis by Robert Godby Pdf

The European debt crisis has posed a challenge for many people to understand, both non-Europeans and Europeans alike. Even economists, finance specialists and market commentators are often uncertain of its causes or in the interpretation of events ongoing, or of past events that have taken place that then shaped the current situation. Typically this lack of understanding results from a lack of understanding of how European institutions work, the structure of European politics and the Eurozone, the economics of the financial system, or the relationship of debt markets to current government policies in the EU. The purpose of this book is to describe the causes and outcomes of the European debt crisis (to the date of publication) within the context of three questions most often asked about the debt crisis: (i) what happened? (ii) why did it happen? and (iii) why has the crisis been so difficult for policy-makers to address? The book attempts to answer these questions in a straightforward, scholarly and thoughtful fashion, thereby developing a wider understanding of the crisis in its entirety for the reader. The book is by no means meant to be an exhaustive treatment on any of the issues it discusses. But the approach taken should be useful for those people who wish to better understand the events of the European financial crisis over the past three years but who do not need to acquire an exhaustive background in European institutions, debt markets, history and economic policy-making. For that reason the proposed book would have appeal to undergraduate students in business, economics, politics or interdisciplinary studies looking for an approachable yet detailed overview of the crisis, for graduate classes seeking similar goals and lay-people or professionals interested generally in the topic and/or with a need to acquire a basic understanding of the topic. Further, the book could serve as an introduction in courses or settings that lead to deeper discussion of the economic, political, and financial issues it presents.

The EU and the Global Financial Crisis

Christian Schweiger
The EU and the Global Financial Crisis Book PDF

Author : Christian Schweiger
Publisher : Edward Elgar Publishing
Page : 224 pages
File Size : 40,5 Mb
Release : 2014-05-30
Category : Political Science
ISBN : 9781781003893

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The EU and the Global Financial Crisis by Christian Schweiger Pdf

This authoritative book offers a complete breakdown of the EUês political economy in the wake of the global financial crisis and will therefore appeal to students of European politics, international political economy and European studies, as well as po

Economic Crisis in Europe

Paul van den Noord,István P. Székely
Economic Crisis in Europe Book PDF

Author : Paul van den Noord,István P. Székely
Publisher : Unknown
Page : 0 pages
File Size : 51,5 Mb
Release : 2011
Category : European Union countries
ISBN : 9279153633

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Economic Crisis in Europe by Paul van den Noord,István P. Székely Pdf

The European economy is emerging from its deepest recession since the 1930s. This volume, which brings together economic analysis from the European Commission services, explains how swift policy response avoided a financial meltdown. Europe also needs an improved co-ordinated crisis-management framework to help it respond to any similar situations that may arise in the future. Economic Crisis in Europe is a much-anticipated volume which shows that the beginnings of such a crisis-management framework are emerging, building on existing institutions and legislation and complemented by new initiatives.

Europe in Crisis

Ivan Berend
Europe in Crisis Book PDF

Author : Ivan Berend
Publisher : Routledge
Page : 186 pages
File Size : 47,9 Mb
Release : 2012-11-12
Category : Business & Economics
ISBN : 9781136193347

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Europe in Crisis by Ivan Berend Pdf

This book analyzes the European Great Recession of 2008-12, its economic and social causes, its historical roots, and the policies adopted by the European Union to find a way out of it. It contains explicit debates with several economists and analysts on some of the most controversial questions about the causes of the crisis and the policies applied by the European Union. It presents the cases of Iceland, Greece and Ireland, the countries that first declined into crisis in Europe, each of them in a different way. Iceland is a case study for reckless banking practices, Greece of reckless public spending, and Ireland of reckless household indebtedness. At least seven other countries, mostly from the peripheries of Europe, had similarly reckless banking and spending practices. In the center of the book are the economic and social causes of the crisis. Contemporary advanced capitalism became financialized, de-industrialized and globalized and got rid of the "straitjacket" of regulations. Solid banking was replaced by high-risk, "casino-type" activity. The European common currency also had a structural problem — monetary unification without a federal state and fiscal unification. The other side of the same coin is European hyper-consumerism. A new lifestyle emerged during two super-prosperous periods in the 1950s to 1960s, and during the 1990s to 2006. Trying to find an exit policy, the European Union turned to strict austerity measures to curb the budget deficit and indebtedness. This book critically analyzes the debate around austerity policy. The creation of important supra-national institutions, and of a financial supervisory authority and stability mechanisms, strengthens integration. The correction of the euro’s structural mistake by creating a quasi-fiscal unification is even more important. The introduction of mandatory fiscal rules and their supervision promises a long-term solution for a well-functioning common currency. These measures, meanwhile, create a two-tier European Union with a fast-track core. This book suggests that the European Union will emerge stronger from the crisis. This book will be of particular interest to students and researchers of economics, history, political science and international finance, but will also prove profitable reading for practitioners and the interested public.

Financial Regulation in the European Union After the Crisis

Domenica Tropeano
Financial Regulation in the European Union After the Crisis Book PDF

Author : Domenica Tropeano
Publisher : Routledge
Page : 179 pages
File Size : 50,5 Mb
Release : 2018-01-12
Category : Business & Economics
ISBN : 9781317211433

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Financial Regulation in the European Union After the Crisis by Domenica Tropeano Pdf

In the wake of the financial crisis, new regulatory measures were introduced which, along with changes in monetary and macroeconomic policy, have transformed the global financial structure. However, this new financial structure displays various fragilities. A new shadow banking system has grown both inside and outside the traditional banks and the divergence between core and periphery countries’ banks has increased further due to both the new regulations and the European Central Bank’s very peculiar interventions. Following Minsky’s approach, this volume explores the interplay between monetary policy, regulation and institutions in the aftermath of the great financial crisis. Minsky’s insights are used to interpret the recent regulatory changes and consider how they have affected the evolution of banks and financial markets. The unfortunate conclusion is that the changes in financial regulation introduced in various jurisdictions and inspired by the work of the Basel Committee, have not succeeded in thwarting the instability of the economic system. Instead, the mix of policies implemented so far has brought about increased fragility in the financial system. Minksy’s work on financial stability offers alternative solutions which policy-makers need to consider to resolve these issues. Financial Regulation in the European Union After the Crisis is an important volume for those who study political economy, banking and monetary economics.

Financial Crisis Management and Democracy

Bettina De Souza Guilherme,Christian Ghymers,Stephany Griffith-Jones,Andrea Ribeiro Hoffmann
Financial Crisis Management and Democracy Book PDF

Author : Bettina De Souza Guilherme,Christian Ghymers,Stephany Griffith-Jones,Andrea Ribeiro Hoffmann
Publisher : Springer Nature
Page : 372 pages
File Size : 47,6 Mb
Release : 2020-12-09
Category : Business & Economics
ISBN : 9783030548957

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Financial Crisis Management and Democracy by Bettina De Souza Guilherme,Christian Ghymers,Stephany Griffith-Jones,Andrea Ribeiro Hoffmann Pdf

This open access book discusses financial crisis management and policy in Europe and Latin America, with a special focus on equity and democracy. Based on a three-year research project by the Jean Monnet Network, this volume takes an interdisciplinary, comparative approach, analyzing both the role and impact of the EU and regional organizations in Latin America on crisis management as well as the consequences of crisis on the process of European integration and on Latin America’s regionalism. The book begins with a theoretical introduction, exploring the effects of the paradigm change on economic policies in Europe and in Latin America and analyzing key systemic aspects of the unsustainability of the present economic system explaining the global crises and their interconnections. The following chapters are divided into sections. The second section explores aspects of regional governance and how the economic and financial crises were managed on a macro level in Europe and Latin America. The third and fourth sections use case studies to drill down to the impact of the crises at the national and regional levels, including the emergence of political polarization and rise in populism in both areas. The last section presents proposals for reform, including the transition from finance capitalism to a sustainable real capitalism in both regions and at the inter-regional level of EU-LAC relations.The volume concludes with an epilogue on financial crises, regionalism, and domestic adjustment by Loukas Tsoukalis, President of the Hellenic Foundation for European and Foreign Policy (ELIAMEP). Written by an international network of academics, practitioners and policy advisors, this volume will be of interest to researchers and students interested in macroeconomics, comparative regionalism, democracy, and financial crisis management as well as politicians, policy advisors, and members of national and regional organizations in the EU and Latin America.

Southern Europe and the Financial Earthquake

Susannah Verney,Anna Bosco,Marina Costa Lobo
Southern Europe and the Financial Earthquake Book PDF

Author : Susannah Verney,Anna Bosco,Marina Costa Lobo
Publisher : Routledge
Page : 158 pages
File Size : 53,5 Mb
Release : 2016-04-14
Category : Political Science
ISBN : 9781317622352

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Southern Europe and the Financial Earthquake by Susannah Verney,Anna Bosco,Marina Costa Lobo Pdf

Following the outbreak of the international financial crisis, Southern Europe became an epicentre of economic instability and international concern. The prospect of a sovereign debt default in the eurozone’s ‘flaky fringe’ sent shock waves through the European and global economies. Examining the crucial initial phase, when the financial crisis was just beginning to spill over into the real economy, the volume surveys the impact of the September 2008 Lehman Brothers’ collapse across the EU’s southern periphery. The six South European eurozone members – Italy, Greece, Spain, Portugal, Cyprus and Malta – are viewed in comparative perspective with EU candidate state and non-eurozone member, Turkey. In an era before the spectacular EU/IMF bailouts, the picture that emerges is one of national differentiation, illuminating these countries’ different starting points and varying policy responses in the face of the gathering financial storm. This book was published as a special issue of South European Society and Politics.

The Legacy of the Global Financial Crisis

Youssef Cassis,Jean-Jacques van Helten
The Legacy of the Global Financial Crisis Book PDF

Author : Youssef Cassis,Jean-Jacques van Helten
Publisher : Bloomsbury Publishing
Page : 241 pages
File Size : 54,6 Mb
Release : 2021-08-12
Category : Political Science
ISBN : 9780755626632

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The Legacy of the Global Financial Crisis by Youssef Cassis,Jean-Jacques van Helten Pdf

Much has been written on the financial crisis of 2008 – the most severe economic downturn since the Great Depression – analysing its causes and the risks for the future of the global economy. This book takes an alternative approach which focuses on the legacy of the global financial crisis, what is remembered and what lessons have been drawn from it. This volume provides perspectives on this legacy from a variety of contributors including central bankers, regulators, politicians, academics, and journalists. They offer insight into what remains of the crisis in terms of public and industry awareness, changes to the post-2008 financial architecture, lessons from the national experiences of highly exposed small economies, and considers this legacy in terms of oversight by regulatory regimes. These diverse perspectives are drawn together here to ask how we can ensure that these lessons will be transmitted to the new generation of global financiers.

A triumph of failed ideas: European models of capitalism in the crisis

Steffen Lehndorff
A triumph of failed ideas European models of capitalism in the crisis Book PDF

Author : Steffen Lehndorff
Publisher : ETUI
Page : 286 pages
File Size : 42,8 Mb
Release : 2012
Category : Capitalism
ISBN : 9782874522468

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A triumph of failed ideas: European models of capitalism in the crisis by Steffen Lehndorff Pdf

The current crisis in Europe is being labelled, in mainstream media and politics, as a ‘public debt crisis’. The present book draws a markedly different picture. What is happening now is rooted, in a variety of different ways, in the destabilisation of national models of capitalism due to the predominance of neoliberalism since the demise of the post-war ‘golden age’. Ten country analyses provide insights into national ways of coping – or failing to cope – with the ongoing crisis. They reveal the extent to which the respective socio-economic development models are unsustainable, either for the country in question, or for other countries. The bottom-line of the book is twofold. First, there will be no European reform agenda at all unless each country does its own homework. Second, and equally urgent, is a new European reform agenda without which alternative approaches in individual countries will inevitably be suffocated. This message, delivered by the country chapters, is underscored by more general chapters on the prospects of trade union policy in Europe and on current austerity policies and how they interact with the new approaches to economic governance at the EU level. These insights are aimed at providing a better understanding across borders at a time when European rhetoric is being used as a smokescreen for national egoism.