The Euro

Philip Arestis, Andrew Brown and Malcolm Sawyer ()

in Books from Edward Elgar Publishing

Abstract: The authors offer a sustained argument that the single currency as currently implemented does not promise to deliver prolonged growth. They contend that the economic impact of the euro, and its accompanying institutions, is likely to be destabilising and deflationary; that the political impact is profoundly undemocratic and that the social consequences are likely to be deleterious. They do not reject the concept of a single currency but are highly critical of policy arrangements such as the Stability and Growth Pact which govern the euro. The authors propose alternative policy and institutional arrangements within which the euro should be embedded. They demonstrate that these would have the benefits of a single currency whilst avoiding many of the potential costs identified by detractors.

Keywords: Economics and Finance (search for similar items in EconPapers)
JEL-codes: D7 (search for similar items in EconPapers)
Date: 2001
ISBN: 9781840645835
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Citations: View citations in EconPapers (19)

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