Eurocritical A Crisis of the Euro Currency
This book critically analyses the crisis of the euro currency from 2008 to the present. It argues that an understanding of this crisis requires an understanding of financial and economic crises in individual countries participating in the euro. It goes on
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eurocritical A CRISIS OF THE EURO CURRENCY
Eurocritical
Roderick Macdonald
Eurocritical A Crisis of the Euro Currency
Roderick Macdonald UQAM - Universite du Québec à Montréal Montreal, Québec, Canada
ISBN 978-1-137-34627-8 ISBN 978-1-137-34628-5 (eBook) https://doi.org/10.1057/978-1-137-34628-5 Library of Congress Control Number: 2018932799 © The Editor(s) (if applicable) and The Author(s) 2018 The author(s) has/have asserted their right(s) to be identified as the author(s) of this work in accordance with the Copyright, Designs and Patents Act 1988. This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover illustration: nats77/iStock/Getty Printed on acid-free paper This Palgrave Macmillan imprint is published by Springer Nature The registered company is Macmillan Publishers Ltd. The registered company address is: The Campus, 4 Crinan Street, London, N1 9XW, United Kingdom
Preface
The euro crisis followed on the heels of the global financial crisis. So also the present book follows on the heels of my previous publication with Palgrave Macmillan, Genesis of the Financial Crisis, which appeared in 2012. I fell ill in 2013, with after effects lingering for several years, diminishing my capacity for work. As a result, six years will have elapsed between books, and the events of the euro crisis have continued to unfold. The purpose of this current book, however, has remained unchanged: to explain the genesis of the euro crisis rather than its subsequent handling by the European Commission, the European Central Bank and the International Monetary Fund (IMF). Hopefully, though, the insight offered by this book will promote discussion and critiques of the procedures and policies by which the euro project is administered. The availability of abundant sources of data on the Internet, such as World Bank and OECD data bases, national stat
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