Stefan Kawalec, Ernest Pytlarczyk, Kamil Kaminski

The Economic Consequences of the Euro (eBook, ePUB)

The Safest Escape Plan

• Format: ePub

Produktbeschreibung

In order to save the European Union and the common market, the book proposes an orderly dismantling of the eurozone, and the creation of a new European currency coordination system. The authors make the case that the optimal solution would be to start the process with the most competitive countries exiting the Eurozone first.

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Produktdetails

• Verlag: Taylor & Francis
• Seitenzahl: 224
• Erscheinungstermin: 5. Dezember 2019
• Englisch
• ISBN-13: 9780429624186
• Artikelnr.: 58535881

Autorenporträt

Stefan Kawalec is the CEO of Capital Strategy, a strategy consulting company in Poland, and a co-founder of the European Solidarity Manifesto.

Ernest Pytlarczyk is the chief economist at mBank S.A., one of the biggest commercial banks in Poland and a subsidiary of Germany's Commerzbank.

Kamil Kaminski is an advisor to the CEO of PKO Bank Polski S.A., Poland's biggest commercial bank.

Inhaltsangabe

List of illustrations. List of contributors. Acknowledgements.
Introduction and overview. Part I: From the success of the European Union
and the single market to the euro crisis. 1. The European Union and the
single market: Europe's great success 2. The euro as an intended step
towards strengthening the EU and the single market 3. The eurozone at a
crossroads
Part II: The significance of national currencies and exchange rate
adjustments. 4. Loss of international competitiveness and inability to
restore it as a source of the problems of the eurozone's depressed
economies 5. International competitiveness should not be confused with
productivity 6. Currency weakening compared to deflationary policy: Two
alternative scenarios for restoring international competitiveness 7. The
meaning of exchange rate adjustments (bike trip example) 8. The tragic
experience of the defence of the gold standard through deflationary policy
during the Great Depression 9. Devaluations that allowed countries to
escape from crises in the post-war period 10. The cases often presented as
the evidence of effectiveness of the internal devaluation 11.
Controversies surrounding devaluation
Part III: Can Europe compensate for the lack of national currencies? 12.
The search for solutions that will repair and strengthen the eurozone 13.
Can fiscal union deliver the tools to improve threatened countries'
competitiveness? 14. What could a more flexible labour market deliver? 15.
Can a fiscal union protect eurozone members from future problems with
competitiveness? 16. The US, nation states and underdeveloped regions, and
the ability of a single currency to function in Europe 17. The optimum
community level for a single currency
Part IV: What are the consequences of defending the Euro at all costs? 18.
The threat to European integration 19. Conflicts with trading partners
Part V: How to return to national currencies, while preserving the European
Union and single market? 20. The euro trap 21. The way out of the euro
trap: Germany should leave first 22. The main elements of the strategy for
a coordinated euro break-up 23. Impact of the proposed strategy on risks
associated with segmentation of the eurozone 24. The special role of the
ECB during the transition period 25. The ability to cope with banking and
debt crises 26. A new currency coordination system in Europe 27. Europe
avoids conflicts with trading partners; Germany avoids a hard landing 28.
Who can initiate the dissolution of the eurozone? 29. A new Bretton Woods.
Conclusion.
The European Solidarity Manifesto. Bibliography. Names Index. Geographical
Names Index.