Breaking Up the Euro


Book Description

The drama of the common currency is a hot topic. The Euro was planned for the European Union's member states, bringing economically strong nations like Germany and Holland and weaker nations like Greece, Spain and Italy under one set of currency rules. A dozen years of its implementation has shown that the planning was incomplete at best. Add to this the weight of a deepening debt crisis among western nations, which continues unabated, and Europe has a very deep financial hole to climb out of. In this work, Dimitris N. Chorafas provides the reader with evidence to poor political judgment, then delves into preparation for the foreseeable Euro breakup and confronts the redenomination risk associated to it.




Safeguarding the Euro in Times of Crisis


Book Description

This book tells the inside story of those who played key roles in setting up the organisations and combatting the crisis. In exclusive interviews, global financial leaders and ESM insiders provide a rich stock of perspectives and anecdotes that bring to life the urgency of the crisis as well as the innovative solutions found to resolve it. The European Stability Mechanism and its temporary predecessor the EFSF provided billions of euros in loans to five hard-hit euro area countries during the European financial and sovereign debt crisis of the early 2000s, helping to safeguard the stability of those countries and the euro area as a whole. Initially, the crisis-torn euro area was ill-equipped institutionally, but the rapid establishment of the firewalls, the assistance programmes, deep‐seated country reforms, the strengthening of European institutions, and extraordinary European Central Bank measures shielded Europe from a euro area break-up. With the EFSF/ESM set-up, its managers aspired to create a new, more entrepreneurial international financial institution, one that is agile enough to respond quickly to new challenges, while still ensuring the strict governance befitting an organisation pursuing a public mission. The euro area has emerged from near disaster in more robust shape. As Europe strives to further strengthen its architecture in preparation for any possible future crises, it is important to reflect upon how the euro area reinvigorated its fortunes and draw the relevant lessons for future crisis management in Europe and beyond.




Unhappy Union


Book Description

The euro was supposed to create an unbreakable bond between the nations and people of Europe. But when the debt crisis struck, the flaws of the half-built currency brought the European Union close to breaking point after decades of post-war integration. Deep fault-lines have opened up between European institutions and the nation-states -- and often between the rulers and the ruled -- raising profound questions about Europe's democratic deficit. Belief in European institutions and national governments alike is waning, while radicals on both the left and the right are gaining power and influence. Europe's leaders have so far proved the doomsayers wrong and prevented the currency from breaking up. "If the euro fails, Europe fails," says Angela Merkel. Yet the euro, and the European project as a whole, is far from safe. If it is to survive and thrive, leaders will finally have to confront difficult decisions. How much national sovereignty are they willing to give up to create a more lasting and credible currency? How much of the debt burden and banking risk will they share? Is Britain prepared to walk away from the EU? And will other countries follow? In Unhappy Union, The Economist's Europe editor and Brussels correspondent provide an astute analysis of the crisis. They describe America's behind-the-scenes lobbying to salvage the euro, economists' bitter debates over austerity, the unseen maneuvers of the European Central Bank and the tortuous negotiations over banking union. In the final chapter, they set out the stark choices confronting Europe's leaders and citizens.




The Break-up of Communism in East Germany and Eastern Europe


Book Description

This book presents a novel understanding of the break-up of communist hegemony in East Germany and Eastern Europe. Based on comparative case studies, it argues that identity politics is a particular invention of communist rule, producing a political citizen. Focusing upon identity politics helps us better to understand the longterm stability of communist hegemony, its sudden collapse, the difficulties of transforming communist societies to liberal democracies and the unexpected revival of ethnic, nationalist and cultural conflicts in post-communist Eastern Europe.




The Euro Crisis and Its Aftermath


Book Description

The euro's life, while only slightly more than a decade long, has been riddled by a series of challenges and crises. The disparity between the prosperous Northern countries of Germany and France and the plummeting Southern countries, including Italy and Greece, has exacerbated problems withinthe political and economic union of the Eurozone. The North, especially Germany, has debated where to draw the line between doing whatever is necessary to save the common currency and what they have viewed as a charity bailout of countries who flouted the rules for a decade and suffered predictableconsequences. Meanwhile, Southern countries such as Italy, Spain, and Greece have grown increasingly bitter at the attitudes of their partners to the North. Amidst loud and frequent debates, solutions including routes for increased integration and punitive policies and reforms have been enacted anddiscarded to a limited degree of success. The struggles facing this monetary union continue to unfold even today.The Euro Crisis and Its Aftermath was written to inform readers about the history of this enduring European crisis and the alternative proposals for ending it. In four parts, Jean Pisani-Ferry explains the origins of the European currency, the build-up of imbalances and oversights that led to thecrisis, the choices European policymakers have both addressed and ignored since 2010, the evolution of the policy agenda, and possible options for the future. The book is as much of an informative and analytical history as it is a prescriptive solution for a more prosperous future world economy.Rather than putting forth and supporting a thesis, Pisani-Ferry helps readers understand the past and present of the euro crisis and form their own opinions about potential solutions. It has grown out of his book Le Reveil des Demons published in France in 2011. The content has been updatedextensively to cover the events of the past few years and augmented to better explain the Eurozone to a global audience. This book is not intended to reach only economists, as time has long passed since European monetary unification was a debate limited to academics. This book is also for the policymakers searching for solutions, citizens of Europe enduring the consequences, and the international community that has felt the effects of an unstable Eurozone.




Breaking Up Is Hard To Do: Britain and Europe’s Dysfunctional Relationship


Book Description

In the noise of the debate about the EU, it is rare for fundamental questions to be asked. For example, for what purposes should we have international institutions at all? Does the EU meet those purposes and, if not, is reform possible? This book considers these questions. An international team of renowned authors looks at each area of economic policy in which the EU has an interest, as well as at the governing structures of the EU, and asks what, if anything, the EU should be doing. In most cases, this is then compared with the status quo and against the possibility of Brexit in order to help the reader make a judgement, in each policy area, about which would be the best direction for Britain to take. As well as providing a fine contribution to the Brexit debate, the authors of this book provide a framework for evaluating the results of renegotiation together with a long-term programme for reform. The usefulness of this timely book will long outlive the referendum debate. The book asks – and answers – the fundamental questions that are rarely considered by the political classes.




The Contemporary Crisis of the European Union


Book Description

The European Union widened and deepened integration when it introduced the Single Market and the common currency, increasing the number of member countries from 12 to 28. After a quarter of a century, the 2008 financial and economic crisis opened a new chapter in the history of European integration. Prosperity was replaced by economic crisis and then long stagnation, with ramifications far beyond the economic arena. For the first time, after more than half a century, some countries were almost forced to step out of the Union. History’s most frightening migration crisis shocked Europe and led to the strengthening of several anti-integration parties in various countries. This pioneering book discusses the nine crisis elements that could lead to disintegration of the EU. Beginning with the Greek Debt disaster this book delves into the cause of the recent European crisis and then onto the recent immigration influx and its consequences, as well as Britain’s exit from the Union. A concluding chapter, based on the facts of positive development during the crises years, gives a cautiously optimistic forecast for the future and asks the question: further integration or disintegration? This volume is of great importance to academics, students and policy makers who have an interest in European politics, political economy and migration.




The Break-up of Britain


Book Description

With this delicious collection of favorite basic recipes by heavy metal bands from around the globe, Annick "The Morbid Chef” Giroux declares war on junk food, and fires up the flame for a special heavy metal feast. Hellbent for Cooking feeds voracious appetites with a varied menu of over a hundred recipes from thirty countries, including Yorkshire Pudding from England, Beer Pizza Crust from Germany, Spaghetti Barracuda from Italy, Fårikål from Norway, Country Lamb Exohiko from Greece, Churrasco from Brazil, and Mushroom Steak à la Jack Daniel’s from the United States. The dishes are legendary, and so are the bands. Feel the heat of thrash metal pioneers Sepultura, Kreator, Anthrax, and Nuclear Assau Raise your infernal fork for madman Chris Reifert’s Mummified Jalapeño Bacon Bombs, then sample Roast Beef with Green Beans prepared under the watchful eye of Udo Dirkschneider of Accept. Try After the Bombs’ Speed Metal Vegan Tofu, or Eyehategod’s favorite New Orleans Blood Red Beans and Rice. Afterwards, Doro Pesch of Warlock serves her Black Forest Cake, and Richard Christy from Death pours his trademark cocktail, the mighty Viking Testicle. Now for anyone with a taste for metal: The kitchen gates are open--grab your weapons of mass nutrition and let the feasts begin! Featuring a full flavorful menu of appetizer, breakfast, lunch, dinner, vegetarian, seafood, dessert, and drink recipes contributed by members of: Abigail, Abscess, Accept, After the Bombs, Alcoholic Rites, Amebix, Anthrax, Anvil, Armored Saint, Arphaxat, Atomizer, Autopsy, Bastardator, Bëehler, Blackfire, Blasphemy, Brutal Truth, Budgie, Bulldozer, Cauldron, Children of Technology, Control Denied, Countess, Cruachan, Dantesco, Deadmask, Death, Death SS, Deiphago, Denial of God, Desolation Angels, Destruction, Devastation, Dissection, Doro, Dusk, Electric Wizard, Elixir, Envenom, Exciter, Eyehategod, Faustcoven, Funerot, Goat Horn, Gorgoroth, Grimorium Verum, Gwar, Hidden Hand, Holocausto, Impaler, Inepsy, Judas Priest, Killers, Kreator, Lamp of Thoth, L’Impero Delle Ombre, Lord Vicar, Mantak, Master, Master’s Hammer, Mayhem, Melechesh, Messiah, Midnight, Minotaur, Mortal Sin, Mütiilation, Necromantia, Necrosadist, Nuclear Assault, Obituary, Obscurity, Orodruin, Pagan Altar, Pentagram, Piledriver, Possessed, Procession, Repulsion, Reverend Bizarre, Rigor Mortis, Rotting Christ, Sadistik Exekution, Saint Vitus, Sepultura, Shackles, Sigh, Sir Lord Baltimore, Skyforger, Slaughter, S.O.D., Spirit Caravan, Stiny Plamenu, Tankard, Thanatos, The Gates of Slumber, The Obsessed, The Rods, Lord Weird Slough Feg, Thin Lizzy, Toxic Holocaust, Trench Hell, Trouble, Tygers of Pan Tang, U.D.O.. Uriah Heep, Warlock, Warpig, Weapon, Wino, Witchfynde, Witchtrap, Xibalba, and Zemial.




The Economics of European Integration


Book Description

Acclaim for the first edition: ÔThe book is essential for students in European studies, international economics and business or international relations at both graduate and postgraduate level.Õ Ð Ricardo Pinheiro-Alves, The Times Higher Education Supplement Thoroughly revised and updated, the second edition of this highly acclaimed textbook will be required reading for graduate and undergraduate students on a wide range of courses including: European economics, economic policy, European integration, European studies and international relations. Exploring the EU at an important turning point and during uncertain and turbulent times, the text will also prove an invaluable reference tool for academics and policy makers concerned with any facet of European integration. Comprehensive and accessible, this far-reaching text: ¥ provides in-depth, state-of-the-art analysis of the origins, achievements and prospects of principal EU economic policies ¥ covers all EU member countries as well as candidate countries ¥ sets scenarios for future EU policy and organisational evolution ¥ prescribes possible paths and directions for the EU, not only for economic policies but also for organisational structure; ¥ features supplementary data via a companion website. Topics explored in detail include: EU budget, competition policy, Common Agricultural Policy, fiscal integration, monetary integration, industrial policy in manufacturing and services, trade policy and international economic cooperation, regional policy, social policy, mobility of labour, energy policy, transport policy, environment policy and enlargement.




Divorce in Europe


Book Description

This open access book collects the major discussions in divorce research in Europe. It starts with an understanding of divorce trends. Why was divorce increasing so rapidly throughout the US and Europe and do we see signs of a turn? Do cohabitation breakups influence divorce trends or is there a renewed stability on the partner market? In terms of divorce risks, the book contains new insights on Eastern European countries. These post socialist countries have evolved dramatically since the fall of the Wall and at present they show the highest divorce figures in Europe. Also the influence of gender, and more specifically women’s education as a risk in divorce is examined cross nationally. The book also provides explanations for the negative gradient in female education effects on divorce. It devotes three separate parts to new insights in the post-divorce effects of the life course event by among others looking at consequences for adults and children but also taking the larger family network into account. As such the book is of interest to demographers, sociologists, psychologists, family therapists, NGOs, and politicians. “This wide-ranging volume details important trends in divorce in Europe that hold implications for understanding family dissolution causes and consequences throughout the world. Highly recommended for researchers and students everywhere.”