In the wake of the Greek crisis, the future of the EU is the subject of a great deal of debate. This book critically evaluates the current new monetarist model of Economic and Monetary Union in Europe, presenting an alternative post-Keynesian (progressive) model, aimed at addressing the current problems of trade imbalance and asymmetric macroeconomic policy infrastructure that are augmenting tensions within the Eurozone.
The book’s approach is based upon the development of a common, rather than a single, currency approach, and utilises post-Keynesian policy solutions in order to create a form of EMU which will promote full employment rather than austerity.
Table of Contents
Introduction 1. Why is the Current Model of EMU Not Working? 2. Single Currency or Common Currency? 3. Monetary Policy in the Keynesian EMU 4. Rediscovering Fiscal Policy 5. Breathing Life into the European Social Model 6. Conclusion Bibliography
Philip B. Whyman is Professor of Economics at the University of Central Lancashire, UK.