Can the Euro Be Saved? - Malcolm Sawyer

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Résumé :
The economies of the Eurozone countries are plagued by multiple crises, which cast major doubts over the future of the Euro. In this engaging new book, leading heterodox economist Malcolm Sawyer argues that the entire policy framework of the Eurozone was fundamentally flawed from its foundation. He shows how these 'design faults' intensified the effects of the crisis, made an effective response to the crash almost impossible, and are now locking in perpetual self-defeating austerity. Sawyer proposes a bold alternative agenda for reviving the continent's economic prosperity and saving the Euro, centred on a Federal fiscal policy and deep reform of the European Central Bank. He argues, however, that these solutions would require a fundamental transformation that is almost certain to encounter huge ideological and political obstacles. He therefore concludes that Europe faces a bleak economic future, blighted by low growth, high unemployment and social division. This major contribution to one of the key economic and political issues of our time will be essential reading for everyone interested in Europe's future....

Biographie:
Malcolm Sawyer is Emeritus Professor of Economics at Leeds University Business School.

Sommaire:
The economies of the Eurozone countries are plagued by multiple crises, which cast major doubts over the future of the Euro. In this engaging new book, leading heterodox economist Malcolm Sawyer argues that the entire policy framework of the Eurozone was fundamentally flawed from its foundation. He shows how these 'design faults' intensified the effects of the crisis, made an effective response to the crash almost impossible, and are now locking in perpetual self-defeating austerity. Sawyer proposes a bold alternative agenda for reviving the continent's economic prosperity and saving the Euro, centred on a Federal fiscal policy and deep reform of the European Central Bank. He argues, however, that these solutions would require a fundamental transformation that is almost certain to encounter huge ideological and political obstacles. He therefore concludes that Europe faces a bleak economic future, blighted by low growth, high unemployment and social division. This major contribution to one of the key economic and political issues of our time will be essential reading for everyone interested in Europe's future....