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The Euro Crisis and Its Aftermath
     

The Euro Crisis and Its Aftermath

by Jean Pisani-Ferry
 

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The euro's life, while only slightly more than a decade long, has been riddled by a series of challenges and crises. The eruption of the Greek crisis in 2010 took European policymakers by surprise and forced them to design responses to a quickly deteriorating situation. Even though Europe has final begun to stabilize, the disparity between the prosperous Northern

Overview

The euro's life, while only slightly more than a decade long, has been riddled by a series of challenges and crises. The eruption of the Greek crisis in 2010 took European policymakers by surprise and forced them to design responses to a quickly deteriorating situation. Even though Europe has final begun to stabilize, the disparity between the prosperous Northern countries, especially Germany, and the plummeting Southern countries, including Spain and Greece, has exacerbated economic and political problems within the Eurozone. Amidst loud and frequent debates, solutions have been enacted, but the struggles facing this monetary union continue to develop even today. The Euro Crisis and Its Aftermath was written to inform readers about the roots 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 the crisis, the choices European policymakers have both addressed and ignored since 2010, and 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 discussion of solutions for a more prosperous European 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. 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 policy makers searching for solutions, citizens of Europe enduring the consequences, and the international community that has felt the effects of an unstable Eurozone.

Editorial Reviews

From the Publisher
"I bet this book will be the source to go to on the euro crisis. That is to say, on the euro crisis until now. If policy makers have the wisdom, they will follow Pisani-Ferry's advice on policies going forward, and Europe will heal. If not, another book on the subject will have to be written." —Olivier Blanchard, Massachusetts Institute of Technology and Director of Research, International Monetary Fund

"Jean Pisani-Ferry has been an active contributor for several years to the debate on the euro area crisis. He has provided invaluable insight to those who were on the frontline of EMU's reform and had to act within political constraints. Displaying a rare mix of economic and political analysis and deep institutional understanding, Jean Pisani-Ferry's book provides a benchmark against which to judge the current and forthcoming reforms that will shape Europe's integration for years to come." —Marco Buti, Director-General for Economic and Financial Affairs, European Commission

"This is a brilliant book about the euro. It surprises with its refreshing mixing of history, politics, and economics. That is indeed the mix we need to understand why the euro was created and why it got into so much trouble, as well as how to repair the euro so as to safeguard its future." —Paul De Grauwe, London School of Economics and Political Science

"This is an excellent, well-balanced, and beautifully-written book on the euro-crisis, its causes, its on-going developments, and its possible cures. Though told simply and clearly, it has a sympathetic and sophisticated understanding of all the finer and more technical details. Required reading." —Charles Goodhart, Professor Emeritus, London School of Economics

"There is no one better than Jean Pisani-Ferry to tell the story of how a financial crisis emanating from the United Stated led the euro zone, virtually overnight, into a financial and economic crisis that continues to threaten its existence. This is a highly readable and clearheaded account of not just went wrong, but also of what must be done to save the European project." —Dani Rodrik, Professor, Institute for Advanced Study, Princeton

"No global financial issue is more pressing than the future of EMU. If you are going to read only one book about it, read this one. Jean Pisani-Ferry accomplishes something rare in this important book. He is wise and balanced while simultaneously being sharp and incisive. This is must-reading for anyone who cares about Europe s future." —Larry Summers, former President, Harvard University and former Secretary of the U.S. Treasury

"It is succinct and clear enough to serve as the best available guide to the euro mess for non-European, non-economists." —David Wessel, The Wall Street Journal

Product Details

ISBN-13:
9780199395910
Publisher:
Oxford University Press
Publication date:
04/01/2014
Sold by:
Barnes & Noble
Format:
NOOK Book
Sales rank:
977,559
File size:
2 MB

Meet the Author

Jean Pisani-Ferry currently serves as the Commissioner-General for Policy Planning to the Prime Minister of France. He is also Professor of Economics and Public Management at the Hertie School of Governance in Berlin. Until May 2013, he was the director of Bruegel, the Brussels-based economic think tank he contributed to founding in 2005.

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