LEADER 04096nam 22005055 450 001 9910153303703321 005 20200701001751.0 010 $a3-319-46388-8 024 7 $a10.1007/978-3-319-46388-9 035 $a(CKB)3710000000961028 035 $a(DE-He213)978-3-319-46388-9 035 $a(MiAaPQ)EBC4746673 035 $a(EXLCZ)993710000000961028 100 $a20161121d2016 u| 0 101 0 $aeng 135 $aurnn|008mamaa 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 14$aThe Euro $eWhy it Failed /$fby Jesper Jespersen 205 $a1st ed. 2016. 210 1$aCham :$cSpringer International Publishing :$cImprint: Palgrave Macmillan,$d2016. 215 $a1 online resource (XIII, 133 p. 20 illus., 12 illus. in color.) 311 $a3-319-46387-X 320 $aIncludes bibliographical references and index. 327 $a1. Eurozone Crises -- 2. An 'Optimal' Currency Area: What Could it Mean? -- 3. Why was the EMU Established?: Different Perspectives -- 4. Balance of Payments Imbalances have Become the Achilles Heel of the EMU -- 5. Public Sector Deficit and Debt: Cause or Effect? -- 6. Macroeconomic Imbalances: Unemployment and Inequality -- 7. Distressed ECB and Financial Instability -- 8. Any Future for the Euro?. 330 $aThis book takes a close look at macroeconomic imbalances within the Eurozone and explores the profound consequences the introduction of the European Monetary Union (EMU) has had on Euro area countries. Particular attention is given to balance of payments deficits and surpluses, and the profound difficulties of rebalancing the Euro area. Throughout the chapters, the author argues that the EMU has failed to support an optimal currency area with the correct institutional arrangements due to misunderstandings at a macroeconomic level. The author also sheds light on the stability pact and the resulting macroeconomic trap which has left a number of Eurozone countries with devastatingly high rates of unemployment. The book argues that by disregarding important macroeconomic imbalances, Euro-monetarists have derailed the entire Eurozone project to such an extent that it is at risk of falling apart. Key chapters discuss the establishment of the EMU from a Euro-realist perspective and the role of the European Central Bank in rebalancing financial markets. The concluding chapter looks ahead to the future of the Euro and proposes necessary institutional solutions to the macroeconomic problems it is currently facing. Scholars and students with an interest in the current economic disarray within the Eurozone will find this work thought-provoking and highly informative. Jesper Jespersen is Professor of Economics at Roskilde University, Denmark. He holds a PhD in International Economics from the European University Institute, Florence, Italy. Further, he has been a visiting professor at the University of Burgundy, France, and a research fellow at Churchill College, Cambridge, UK. He is the author of Macroeconomic Methodology (2009), and co-editor of Keynes?s General Theory for Today (2012) and Teaching Post Keynesian Economics (2013). 606 $aEuropean Economic Community literature 606 $aEconomic policy 606 $aEurope?Politics and government 606 $aEuropean Integration$3https://scigraph.springernature.com/ontologies/product-market-codes/W33010 606 $aEconomic Policy$3https://scigraph.springernature.com/ontologies/product-market-codes/W34010 606 $aEuropean Politics$3https://scigraph.springernature.com/ontologies/product-market-codes/911130 615 0$aEuropean Economic Community literature. 615 0$aEconomic policy. 615 0$aEurope?Politics and government. 615 14$aEuropean Integration. 615 24$aEconomic Policy. 615 24$aEuropean Politics. 676 $a337.142 700 $aJespersen$b Jesper$4aut$4http://id.loc.gov/vocabulary/relators/aut$0124875 906 $aBOOK 912 $a9910153303703321 996 $aThe Euro$92289028 997 $aUNINA