The euro evolution and prospects
The authors offer a sustained argument that the single currency as currently implemented does not promise to deliver prolonged growth. They contend that the economic impact of the euro, and its accompanying institutions, is likely to be destabilising and deflationary; that the political impact is pr...
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| Other Authors: | , |
| Format: | eBook |
| Language: | English |
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Cheltenham, U.K
Edward Elgar
c2001
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| Collection: | Edward Elgar eBook Archive - Collection details see MPG.ReNa |
| Summary: | The authors offer a sustained argument that the single currency as currently implemented does not promise to deliver prolonged growth. They contend that the economic impact of the euro, and its accompanying institutions, is likely to be destabilising and deflationary; that the political impact is profoundly undemocratic and that the social consequences are likely to be deleterious. They do not reject the concept of a single currency but are highly critical of policy arrangements such as the Stability and Growth Pact which govern the euro. The authors propose alternative policy and institutional arrangements within which the euro should be embedded. They demonstrate that these would have the benefits of a single currency whilst avoiding many of the potential costs identified by detractors 1. Introduction -- 2. From common market to EMU : an historical perspective on European economic and monetary integration -- 3. The conditions surrounding the launch of the euro -- 4. Monetary and financial arrangements accompanying the euro -- 5. Channels of monetary policy and implications for the euro -- 6. The causes of euro instability |
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| Physical Description: | vii, 152 p ill |
| ISBN: | 1840645830 9781843766940 9781840645835 |