The 2008 financial and economic crisis has had a severe impact on the world economy and in Europe in particular. The negative consequences of the crisis may be much worse in Europe than in the US, despite the fact that both the US and the European countries have been obliged to provide their economies with a substantial fiscal stimulus. The contributors to this volume examine both the general effects of the crisis on the European institutional setup, governance and architecture; and conduct more detailed country studies. They conclude that the various 'crises' hitting the European economy and polity in the recent years have clearly demonstrated structural problems that will have to be tackled and solved to avoid permanent crisis. This book is essential reading for all interested political economy, transition economics and for those wishing to further understand the implications of the recent financial and economic crisis in Europe.
Introduction Part I: Europe and the financial crisis: general issues: The Regulation Of The European Financial Market After The Crisis The monetary policy response to the financial crisis in the Euro area and in the United States: a comparison Real divergence across Europe and the limits of the EMU macroeconomic governance The euro in the international monetary system after the global financial and economic crisis and after the European public debt crisis. Europe in crisis: more political integration in the eurozone is the solution. Economic Crisis and Industrial Policy in the Union: the need for a long-term vision of industrial development Part II: the impact of the financial crisis on single european countries: The UK and the Euro in the aftermath of the global financial crisis The Greek debt crisis: Causes, policy responses and consequences from miracle to crash. he impact of the global financial crisis on Spain France: Steering out of crisis? The Effects of the Financial Crisis on the Italian and USA Labour Markets Reaching Out in a Time of Crisis How External Anchors Assist South Eastern Europe Russia in crisis: Implications for Europe Conclusion
