This critical and thought-provoking book explores the causes and consequences of Europe's failed political and economic institutions.
Europe's recession has created new challenges as market turmoil has shaken the foundations of the twin pillars of the new drive for European integration - political and monetary unions. This book critically assesses the patchwork solutions continually offered to hold the troubled unions together. Failed political policies, from the prodigious `Common Agricultural Policy' to ever more common fiscal stimulus packages, are shown to have bred less than stellar results in the past, and to have devastating implications for future European growth. The contributors outline the manner through which European monetary union has subsidized and continues to exacerbate the burgeoning debt crisis. Most strikingly, the interplay between Europe's political and economic realms is exposed as the boondoggle it is, with increasingly bureaucratic institutions plaguing the continent and endangering future potential.
Combining political and economic analysis, this comprehensive book will prove essential for researchers and students in international business and macroeconomics. Educated laymen wanting a keener perspective on Europe's recession will also find this book to be invaluable.
Edited by David Howden, Saint Louis University, Madrid, Spain
Contents: Foreword Jesus Huerta de Soto 1. Institutional Illusion and Financial Entrepreneurship in the European Debt Scheme Gabriel A. Gimenez-Roche 2. A Stock-taking of the Impact of the Crisis Jorg Guido Hulsmann 3. The Irish Economic `Miracle': Celtic Tiger or Bengal Kitten? Anthony J. Evans 4. Europe's Unemployment Crisis: Some Hidden Relief? David Howden 5. Europe's Crisis of Accounting Maria Alvarado, Laura Muro and Kirk Lee Tennant 6. Solvency II and the European Sovereign Debt Crisis: The Case of Misplaced Prudence Antonio Zanella 7. The Eurosystem: Costs and Tragedies Philipp Bagus 8. Fiscal Stimulus, Financial Ruin Fernando Ulrich 9. From German Rules to European Discretion: Policy's Slippery Slope Malte Tobias Kahler 10. The Euro as a Hindrance to Recovery? A Comparative Analysis of the Czech Republic and Slovakia Jiri Schwarz and Josef Sima 11. Compounding Agricultural Poverty: How the EU's Common Agricultural Policy is Strangling European Recovery Brian O Caithnia Index