The European Monetary Union After the Crisis: From a Fiscal Union to Fiscal Capacity [Hardcover]

This book provides a much-needed detailed analysis of the evolution of Europe over the last decade, as well as a discussion about the path of reform that has been trodden in the aftermath of the financial crisis. It offers a multidisciplinary view of the E(M)U and captures the main factors that induced the reform of the monetary union  a process that has not been linear and is far from being concluded.

The author examines the policy responses designed throughout the development of the crisis and assesses the scale of the crisis in Europe, in comparison to other parts of the world, as well as its prolonged effects both in economic and financial terms. An update on the current state of the art in the conception of risk-sharing mechanisms is provided. With its innovative approach, the book analyses the financing issues which need to be taken into consideration in the design of these instruments and highlights the main categories of governmental risk-sharing mechanisms  in particular, the ones to be used as fiscal capacity.

This is a timely and topical book and will be of interest to a broad audience, including experts, scholars and students of European affairs, particularly those with economic, financial, legal and political science backgrounds.

1. Introduction Part I: The Great Financial Crisis and the Economic and Monetary Union 2. From the financial crisis to the Euro crisis 3. Misguiding signs in the policy responses to the EMU crisis Part II: Governmental Risk-Sharing Mechanisms After the Crisis: from a Fiscal Union to a Fiscal Capacity 4. The EMUs Great Reform as an imperative 5. Risk sharing mechanisms as a panacea for saving the Euro: a fiscal capacity for the EMU 6. References

This book provides a much-needed detailed analysis of the evolution of Europe over the last decade, as well as a discussion about the path of reform that has been trodden in the aftermath of the financial crisis. &lcx