ECONOMIC IMBALANCES AND INSTITUTIONAL CHANGES TO THE EURO AND THE EUROPEAN UNION

This book offers a critical perspective from which to observe evolution of the euro area and the European Union in these times of growing economic and political conflict. Key implications of design failures in the euro area (i.e. incorrect diagnostics of the public finance crisis, single monetary policy failure, heterogeneous macroeconomic environment, asymmetry in macroeconomic policies, obstacles for policy coordination) and their contribution to the excessive external and internal economic imbalances will be critically discussed from the economic, policy, and institutional perspectives. This critical insight is sed to examine both institutional asset and economic performance of Europe after the crisis, moving from the authors’ shared perspective that the crisis revealed the weak aspects of the whole architecture of the European Union.