Greekonomics

Product Description

Economist Vicky Pryce reflects on the current crisis in the Euro Zone
- its causes & how Europe has responded & offers her thoughts on what might & what needs to happen if the Euro is to survive in its current form. She pays particular attention to Greece the country of her birth the country first in the firing line in the Euro crisis & the country even now seen as Europe's 'problem child'. But as Pryce explains the roots of the Euro's crisis are much broader than a set of profligate governments in Greece Ireland Portugal Italy or Spain. The flaws in the current system were obvious to economists from the outset. Politicians ignored or downplayed these in creating the Euro & indeed made the problem worse by watering down the controls that were in place. If the Euro is to survive in the long term even greater political & fiscal integration & cooperation will be required. The dilemma is that the slow & unimaginative response of the German & other northern European political classes to the current crisis & the consequent enormous pain that is now being inflicted on many countries has led to greater nationalism & made reaching the consensus necessary to pull Europe out of its crisis more rather than less difficult. This book will be required reading for economists politicians market practitioners public servants & anyone interested in understanding the current crisis.