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Towards a Resilient Eurozone

Economic, Monetary and Fiscal Policies

Edited By John Ryan

This book examines the Eurozone crisis and the possibility of fiscal and political union in Europe, with contributions from some of the most respected experts on these topics. The book explains the complex, multidimensional crises in competitiveness, fiscal matters, banking and politics. During the crisis Germany has been criticized for misjudging the causes, focusing too much on fiscal deficits and insisting that the solution is fiscal consolidation and austerity. For many, especially those inspired by Keynesian economics, Germany has been seen as pushing the whole continent into a depression. By misjudging the causes of the crisis, insisting on widespread austerity, constraining the European central Bank (ECB) in its role of Lender of Last Resort for the sovereigns, rejecting the mutualization of Eurozone debt and providing financial help in small amounts and too late, Germany is perceived to be responsible for the possible break-up of the Eurozone. The aim of this book is to analyse whether this description, one that is shared by numerous policymakers, academics, pundits and opinion leaders, means that there is a lack of resilience in the Eurozone’s economic, monetary and fiscal policies.


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Notes on Contributors


Heribert Dieter holds a PhD in Economic and Social Sciences from the Free University of Science in Berlin. He is Senior Research Associate in the Research Unit Global Issues at the German Institute for International and Security Affairs, Berlin (tenure) and Associate Fellow in the Centre for the Study of Globalization and Regionalization at the University of Warwick. Mathias Dolls joined the Center for European Economic Research (ZEW) as post-doctoral researcher in the Strategic Planning Unit and research group International Distribution and Redistribution in May 2013. He previously worked as Research Associate at the Institute for the Study of Labor (IZA) and received his PhD in economics from the University of Cologne. He has been involved in several research projects conducted on behalf of national ministries, the European Commission, the European Parliament, the European Central Bank and the OECD. His research focuses on empirical public and labour economics. Clemens Fuest studied economics at the Universities of Bochum and Mannheim. He completed a doctorate at the University of Cologne in 1994 with a thesis on ‘A Fiscal Constitution for the European Union’ and obtained his habilitation (venia legendi) at the Ludwig Maximilian University of Munich in 2000 with a work on the link between fiscal policy and unemployment. In 2001, he accepted a professorship of political economy at the University of Cologne. In 2004, he was a visiting professor at Bocconi University in Milan. Until the end of February 2013 he was one of the directors of the Institute for Public...

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