Crisis in the Eurozone
By Costas Lapavitsas
Crisis in the Eurozone. Verso, 2012.
Summary of Crisis in the Eurozone book by Costas Lapavitsas
A thoroughly detailed analysis of the economic crisis affecting the European Union beginning in 2009 and its impact across multiple countries, along with controversial but rationalized steps that could be taken to resolve the growing fissures among eurozone states.
Chapters in Crisis in the Eurozone book summary
What do you get from this book? An analysis of the causes of the eurozone crisis and strategies for reform
Though the goal of the EU was to bring countries together, their economic experiences differed before and during the recession
Attempts at a collective economy in the eurozone resulted in a central core and periphery of member states
High inflation rates and nominal unit labor costs were significant factors in the contrasting economies
Union-wide economic policies and unchecked borrowing tipped the scales of eurozone nations’ balance of payments
Prior to the eurozone crisis, periphery countries had a deficit, while core nations had a surplus
Not all debt was created equal during the transition to a common currency, which exacerbated the gap between eurozone nations
Deciding to abide by austerity measures and privatizing companies were controversial choices for the Greek economy
Structural changes throughout the eurozone are necessary, but the reforms will inevitably be risky
What’s next for the eurozone could be a reconstruction or a drastic destruction of the union
Summary of the key insights
Selected critiques in brief
Final word
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Crisis in the Eurozone — Book Summary Snapshot
Who should read Crisis in the Eurozone book
- researchers
- politicians
- lawyers and legislators
- anyone wanting to learn more about the eurozone crisis
About the author of Crisis in the Eurozone
Costas Lapavitsas
Costas Lapavitsas is a professor of Economics at the University of London, where he received his PhD. He remains an outspoken economist writing a financial column for the Guardian and is the founder of the think tank Research on Money and Finance (RMF).
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