The Euro and the Battle of Ideas / / Harold James, Markus K. Brunnermeier, Jean-Pierre Landau.

• Superior document: Title is part of eBook package: De Gruyter Princeton University Press Complete eBook-Package 2016
• VerfasserIn: Brunnermeier, Markus K.,; James, Harold,; Landau, Jean-Pierre,
• Place / Publishing House: Princeton, NJ : : Princeton University Press, , [2016]; ©2017
• Year of Publication: 2016
• Language: English
• Physical Description: 1 online resource (448 p.) :; 20 line illus.
• Other title: Frontmatter --; Contents --; Introduction --; Part I. Power Shifts and German-French Differences --; 2. Power Shifts --; 3. Historical Roots of German-French Differences --; 4. German-French Differences in Economic Philosophies --; Part II. Monetary and Fiscal Stability: The Ghost of Maastricht --; 5. Rules, Flexibility, Credibility, and Commitment --; 6. Liability versus Solidarity : No-Bailout Clause and Fiscal Union --; 7. Solvency versus Liquidity --; 8. Austerity versus Stimulus --; Part III. Financial Stability: Maastricht's Stepchild --; 9. The Role of the Financial Sector --; 10. Financial Crises: Mechanisms and Management --; 11. Banking Union, European Safe Bonds, and Exit Risk --; Part IV. Others' Perspectives --; 12. Italy --; 13. Anglo-American Economics and Global Perspectives --; 14. The International Monetary Fund (IMF) --; 15. European Central Bank (ECB) --; 16. Conclusion : Black and White or Twenty-Eight Shades of Gray? --; Acknowledgments --; Notes --; Index
• Format: Mode of access: Internet via World Wide Web.
• ISBN: 9781400883332; 9783110638592
• DOI: 10.1515/9781400883332?locatt=mode:legacy
• Access: restricted access
• Hierarchical level: Monograph
• Statement of Responsibility: Harold James, Markus K. Brunnermeier, Jean-Pierre Landau.

Why is Europe's great monetary endeavor, the Euro, in trouble? A string of economic difficulties in Greece, Ireland, Spain, Italy, and other Eurozone nations has left observers wondering whether the currency union can survive. In this book, Markus Brunnermeier, Harold James, and Jean-Pierre Landau argue that the core problem with the Euro lies in the philosophical differences between the founding countries of the Eurozone, particularly Germany and France. But the authors also show how these seemingly incompatible differences can be reconciled to ensure Europe's survival.As the authors demonstrate, Germany, a federal state with strong regional governments, saw the Maastricht Treaty, the framework for the Euro, as a set of rules. France, on the other hand, with a more centralized system of government, saw the framework as flexible, to be overseen by governments. The authors discuss how the troubles faced by the Euro have led its member states to focus on national, as opposed to collective, responses, a reaction explained by the resurgence of the battle of economic ideas: rules vs. discretion, liability vs. solidarity, solvency vs. liquidity, austerity vs. stimulus.Weaving together economic analysis and historical reflection, The Euro and the Battle of Ideas provides a forensic investigation and a road map for Europe's future.