Making the European Monetary Union by Harold James
Europe's financial crisis cannot be blamed on the Euro, James contends in this probing exploration of the whys, whens, whos, and what-ifs of European monetary union. The current crisis goes deeper, to conundrums that were debated but not resolved at the time of the Euro's invention. And, Euro or no Euro, these clashes will continue into the future.
The roots of Europe's economic meltdown are unearthed in this massive, illuminating study of the institution that was supposed to prevent itPrinceton historian James traces the decades-long process by which the Committee of Governors of Europe's national central banks incubated and then implemented the idea of a Europe-wide monetary union and common currency-which finally morphed into the European Central Bank. Drawing on extensive archival research, he recaps in dense detail the sharp policy debates between bank chiefs and sets them against the periodic European exchange-rate disruptions that goaded them toward monetary reform. Throughout, James highlights problems that would later precipitate the present-day euro crisis: imbalances between Germany's trade surpluses and other countries' deficits; clashes between independent central banks seeking price stability and inflationary government economic policies; the difficulty of imposing fiscal discipline on individual nations; lousy regulatory oversight of a surging European financial industry... It is quite readable and even manages to convey the humanity of banking officials. The result is a lucid account of the labyrinthine topic of European Union monetary policy and its discontents. Publishers Weekly 20120910 [A] compelling book on the origins of EMU...Using previously secret documentation made available from central banking archives, as well as his own colossal historical insights and experience, James provides a masterful overview of the process of building a common money. -- David Marsh MarketWatch 20121015 James's focus on the EMU's development yields insights about current regional financial crises. This in-depth history will appeal to academic readers looking for extensive details about the EMU from several decades. -- Caroline Geck Library Journal 20121001 Of considerable interest to the economically inclined; a thoroughgoing demonstration of how fragile are monetary unions 'without some measure of fiscal union.' Kirkus Reviews 20121101
Harold James is the Claude and Lore Kelly Professor in European Studies and Professor of History and International Affairs at Princeton University.
| SKU | Unavailable |
| ISBN 13 | 9780674066830 |
| ISBN 10 | 0674066839 |
| Title | Making the European Monetary Union |
| Author | Harold James |
| Condition | Unavailable |
| Binding Type | Hardback |
| Publisher | Harvard University Press |
| Year published | 2012-11-19 |
| Number of pages | 592 |
| Cover note | Book picture is for illustrative purposes only, actual binding, cover or edition may vary. |
| Note | Unavailable |