Exit Strategy: Ending the Tyranny of Finance
From Italy’s former minister of economy and finance, a provocative and galvanizing jeremiad on the Euro crisis and the global economic status quo. As Europe’s debt crisis persists and the aftershocks of the 2008 collapse hinder recovery across the globe, Giulio Tremonti underscores the dangers that unchecked financial markets pose to democracy, and explains what nations must do to protect their autonomy. Condemning what he calls "marketism"—an insidious ideology that puts the speculative financial market above all else—Tremonti bemoans a world in which finance, not governments, sets the rules and, as a result, determines political discourse. But when finance fails, it is the people who must pay the price, and not just economically. An instant and enduring bestseller in Italy, Exit Strategy calls for sweeping changes in both policy and mindset. Candid and critical as few politicians have been in the aftermath of the crisis, Tremonti breaks down the systemic failures of global finance and proposes a "New Alliance" between citizens and governments to free politics from the thrall of the financial markets, and put the people themselves back in control.
1110870898
Exit Strategy: Ending the Tyranny of Finance
From Italy’s former minister of economy and finance, a provocative and galvanizing jeremiad on the Euro crisis and the global economic status quo. As Europe’s debt crisis persists and the aftershocks of the 2008 collapse hinder recovery across the globe, Giulio Tremonti underscores the dangers that unchecked financial markets pose to democracy, and explains what nations must do to protect their autonomy. Condemning what he calls "marketism"—an insidious ideology that puts the speculative financial market above all else—Tremonti bemoans a world in which finance, not governments, sets the rules and, as a result, determines political discourse. But when finance fails, it is the people who must pay the price, and not just economically. An instant and enduring bestseller in Italy, Exit Strategy calls for sweeping changes in both policy and mindset. Candid and critical as few politicians have been in the aftermath of the crisis, Tremonti breaks down the systemic failures of global finance and proposes a "New Alliance" between citizens and governments to free politics from the thrall of the financial markets, and put the people themselves back in control.
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Exit Strategy: Ending the Tyranny of Finance

Exit Strategy: Ending the Tyranny of Finance

by Giulio Tremonti
Exit Strategy: Ending the Tyranny of Finance

Exit Strategy: Ending the Tyranny of Finance

by Giulio Tremonti

eBook

$13.99 

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Overview

From Italy’s former minister of economy and finance, a provocative and galvanizing jeremiad on the Euro crisis and the global economic status quo. As Europe’s debt crisis persists and the aftershocks of the 2008 collapse hinder recovery across the globe, Giulio Tremonti underscores the dangers that unchecked financial markets pose to democracy, and explains what nations must do to protect their autonomy. Condemning what he calls "marketism"—an insidious ideology that puts the speculative financial market above all else—Tremonti bemoans a world in which finance, not governments, sets the rules and, as a result, determines political discourse. But when finance fails, it is the people who must pay the price, and not just economically. An instant and enduring bestseller in Italy, Exit Strategy calls for sweeping changes in both policy and mindset. Candid and critical as few politicians have been in the aftermath of the crisis, Tremonti breaks down the systemic failures of global finance and proposes a "New Alliance" between citizens and governments to free politics from the thrall of the financial markets, and put the people themselves back in control.

Product Details

ISBN-13: 9780847840274
Publisher: Rizzoli
Publication date: 09/11/2012
Sold by: Penguin Random House Publisher Services
Format: eBook
Pages: 252
File size: 3 MB

About the Author

Giulio Tremonti served multiple terms in the Italian government as minister of economy and finance. He has been a university professor since 1974 and is currently in the law department at the University of Pavia, Italy, and president of the Aspen Institute Italia. He has published several books and is a frequent contributor to a variety of European newspapers.

Table of Contents

Introduction 11

I Three Tragic Mistakes 21

II Dominant Capital 43

III The Financial Market: When Geography Meets Alchemy 56

IV The Risk Is Ongoing 65

V Greece and Europe 75

VI A Stress Test of the European Union Treaties 84

VII A Stroll Through European History 90

VIII May's Great Illusion and the Deauville Autumn 96

IX Europe?! 104

X Germany?! 117

XI Four Possibilities 127

XII The New Alliance 144

XIII The Exit Strategy 157

Appendices

1 A Few Papers From My Files 179

2 Preface to the Japanese Edition of The Fear and the Hope by Former Governor of the Bank of Japan Toshihiko Fukui 189

3 From the First Few Pages of The Fear and the Hope 191

4 The Twenty Years That Changed the Structure and Speed of the World 200

5 The Financial Stability Board 210

6 Credit Default Swaps 217

7 Basel III 222

8 The Ratings Agencies 224

9 The Statistics of the Common European Market 227

10 The Financial Interdependencies Between the Banking Systems of the Six Main European Countries with Regard to the Economies of Other Countries 232

11 Three Intervention Mistakes After Deauville 238

12 Speech Given at Villa d'Este in Cernobbio-Friday, September 7, 2007 241

13 The Glass-Steagall Act 244

14 The Global Legal Standard 247

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