Synopses & Reviews
Europe is suffering from a bipolar economic disorder; one symptom of which is a sovereign debt crisis. The media have divided the continent into two groups of nations: center and periphery, not by geography but by credit ratings on national debt. European Debt Crisis: The Sovereign Debt Crisis - A Memorandum from the Periphery is a critical investigation of the root causes of the crisis, and the often misguided policy choices made to 'resolve' it.
Nobel Laureate Joseph Stiglitz addresses how regional debt contagion in Europe compares with regional financial crises elsewhere, while former Argentine Minister for Economics Roberto Lavagna provides a poignant comparative analysis with his own country's experience. Crucially and uniquely, Portuguese, Greek, and Irish economists provide hard-hitting case studies that offer the perspective of the European 'periphery'.
A much-needed book offering a heterodox economic perspective on the causes, symptoms, and solutions of the biggest economic issue currently facing Europe.
Synopsis
Europe is suffering from a bipolar economic disorder. Financial journalists divide the continent into two groups of nations - centre and periphery - not by geography but by credit rating. Europe on the Brink is a critical investigation of the root causes of this sovereign debt crisis, and the often misguided policy choices made to resolve it.
Nobel Laureate Joseph Stiglitz, together with two other finance experts, compares debt contagion in Europe with regional financial crises elsewhere, while Roberto Lavagna, former economics minister in Argentina, provides a poignant comparative analysis with his own country s experience. Crucially and uniquely, Portuguese, Greek and Irish economists provide hard-hitting case studies from the perspective of the periphery.
This much-needed book offers a heterodox economic perspective on the causes, symptoms and solutions of the biggest economic issue currently facing Europe."
About the Author
Tony Phillips is an Irish researcher in the University of Buenos Aires, Faculty of Economics, Argentina. He specialises in alternative development, sovereign debt issues and ecological economics.
Table of Contents
1. Introduction; Tony Phillips (ed.)
2. Crises and Contagion: A Survey; Joseph Stiglitz, Anzhela Knyazeva and Diana Knyazeva
3. What Causes Financial Crises?
4. Derivatives: The Mechanics of Contagion; Tony Phillips
5. Countering Myths about Portugeuse Debt; Mariana Mortagua
6. Delicate Finances and Speculative Attacks - Portugal: Could Things have been Different?
7. Greece: Europe's Worst Success Story; Christina Laskaridis
8. The Greek Debt Fiasco
9. Argentina 2001: a Heterodox Exit from the Crisis; Roberto Lavagna
10. Crisis 2001 And Recovery - 2002 to 2006
11. Epilogue; Tony Phillips