- Title
- Eurozone dystopia: groupthink and denial on a grand scale
- Creator
- Mitchell, William
- Publisher Link
- http://dx.doi.org/10.4337/9781784716660
- Publisher
- Edward Elgar Publishing
- Resource Type
- book
- Date
- 2015
- Description
- This book critically examines the options that the Eurozone nations have to address the social and economic crisis that has bedevilled them since 2008. The book elucidates these options within an historical understanding of the path taken to create the Economic and Monetary Union (EMU). The historical experience highlights the difficulties that nations with very different economic structures and a lack of cultural solidarity face when they try to fix exchange rates and adopt a common currency. It also allows us to understand how the growing dominance of neo-liberal economics in the 1980s intersected with the post World War II Franco-German rivalry to create a destructive Groupthink that undermines prosperity, denies reality, and rejects viable solutions to the crisis on ideological grounds. There are superior options to austerity, even within the common currency arrangement. But if sustainable prosperity is to be achieved then the Eurozone should be dismantled in an orderly fashion and national currencies restored. If such a development cannot be brokered between the Member States, then the superior option for nations such as Italy, Greece, Spain and such is to unilaterally exit the EMU and restore their own sovereignty.
- Subject
- Eurozone nations; economics; Economic and Monetary Union (EMU)
- Identifier
- http://hdl.handle.net/1959.13/1333871
- Identifier
- uon:27162
- Identifier
- ISBN:9781784716653
- Language
- eng
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