The Incomplete Currency

While the world's advanced economies have struggled for nearly five years to exit a phase of persistent crisis and return to a path of steady growth, Europe has been uniquely impacted by the international financial crisis due to the fact that the monetary union at present can be classified as a fixed-exchange regime realised in an incomplete way. The Incomplete Currency offers the first technical yet accessible analysis of the Eurozone crisis from a global perspective.

Joining the Euro means a country maintains full autonomy of its fiscal policy and debt management while simultaneously giving up its monetary sovereignty. In the book, this sophisticated agreement is explained with the depth of coverage financial professionals and academics need without the technical complexity that convolutes how the Euro system actually functions on a day-to-day basis. With an insider's perspective not found in other publications, this authoritative and enlightening guide demystifies the Euro's architecture, the relationship between finance and the real economy, and the systematic issues all at the root of the current problems of widespread unemployment and increasing tax burdens facing European citizens. Unbiased coverage free from a singular political agenda looks at the way the current system has performed during the most recent financial crisis in relation to how previous systems handled past crises. It also assesses the risks surrounding the European Monetary Union (EMU) breaking up and examines the extraordinary measures taken by the European Central Bank (ECB) to save it. Illustrated with extensive tables, charts and graphs with data from the United States and Europe, this prescriptive resource looks at:

  • Solving the Eurozone's debt refinancing problem by permanently reducing the amount of funding being given to peripheral countries
  • A pluralistic set of possible solutions implementable by the ECB that would achieve valuable results both in the short and the medium-long term by intervening at the European level and in individual countries
  • The systematic lack of transparency, widespread use of opaque financial products, and the concealment, improper identification, measurement and representation of risk
  • Look no further for the straightforward quantitative breakdown of where the EMU stands and how it can move forward with The Incomplete Currency.

    € 37.99

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