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作者 Berend, Iván
書名 Europe in Crisis : Bolt from the Blue?
出版項 London : Taylor & Francis Group, 2012
©2013
國際標準書號 9781136193354 (electronic bk.)
9780415637220
book jacket
說明 1 online resource (185 pages)
text txt rdacontent
computer c rdamedia
online resource cr rdacarrier
附註 Cover -- Title -- Copyright -- CONTENTS -- List of tables -- Preface -- Introduction: "Unprecedented freedom from cyclical instability" -- 1 Variations on a theme: Iceland, Greece, and Ireland's road toward the crisis -- Variation no. 1: Iceland -- Variation no. 2: Greece -- Variation no. 3: Ireland -- 2 The fall-of 2008: from the financial crisis to the crisis of the euro -- The exploding financial crisis -- Portugal -- Italy -- Spain -- Do the "transition" Eastern peripheries have a special crisis? -- Hungary and Latvia: lost in transition? -- The all-European crisis -- The decline of the real economy -- The crisis of the euro -- 3 The economic causes: contemporary European capitalism: The financialized, deregulated market system in the globalized world economy and partially integrated Europe -- The financialized capitalist system -- Financialization and globalization -- The deregulated market system -- The structural tribulations of the European Union and the euro-zone -- The "original sin" of the euro's construction -- 4 The social causes: living beyond our means -- The new dream: consumption -- A new social setting for consumer society -- Consumerism -- Consumer infrastructure and stimulus -- Credit consumerism -- Will "Social Europe" be rebuilt? -- 5 Which way Europe? Managing the economic crisis and the way out -- Crisis management: stimulus packages and bailouts -- Crisis management: austerity measures -- The return to a regulated market system -- Structural-institutional changes in the European Union -- Future alternatives for the European Union and the euro-zone -- Notes -- Index
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
Description based on publisher supplied metadata and other sources
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2020. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries
鏈接 Print version: Berend, Iván Europe in Crisis : Bolt from the Blue? London : Taylor & Francis Group,c2012 9780415637220
主題 Recessions -- Europe -- History -- 21st century.;Europe -- Economic policy
Electronic books
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