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Liberalism in Crisis?

European Economic Governance in the Age of Turbulence
Edited by Carlo Secchi, Vice President, ISPI and Professor of European Economic Policy, Bocconi University, Milan, Italy and Antonio Villafranca, Senior Research Fellow, ISPI, Milan, Italy
During the current economic crisis recurring questions on the validity of the liberal economic system have resurfaced concerning the role of the state and the free market, the proactive use of fiscal policies, economic nationalism, and environmental sustainability. However, due to the depth and scope of the crisis new emphasis is being placed on these issues. This book attaches great importance to the specific consequences for the European Union by addressing critical themes surrounding its role in the new era of global economic governance. These include the coherence of common monetary policy with national fiscal policies, new financial regulation and supervision, and the future sustainability of national rescue plans and their compatibility with ambitious targets, such as those addressing climate change.
In Association with ISPI
Extent: 256 pp
Hardback Price: £78.00 Online: £70.20
Publication Date: 2009
ISBN: 978 1 84844 530 7
Availability: In Stock
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  • Economics and Finance
  • International Economics
This highly topical book explores the effects of the current economic crisis on the European Union, and, illustrating that there is no single solution, prescribes the most effective ways of managing this unprecedented period of turbulence.

During the current economic crisis, recurring questions on the validity of the liberal economic system have resurfaced concerning the role of the state and the free market, the proactive use of fiscal policies, economic nationalism and environmental sustainability. However, due to the depth and scope of the crisis, new emphasis is being placed on these issues. This book attaches great importance to the specific consequences for the European Union by addressing critical themes surrounding its role in the new era of global economic governance. These include the coherence of common monetary policy with national fiscal policies, new financial regulation and supervision, the future sustainability of national rescue plans and their compatibility with ambitious targets, such as those addressing climate change.

Offering important insights towards a much improved system for future economic governance in Europe, this timely book will prove a fascinating read for a wide-ranging audience including academics, students and researchers with an interest in economics, European finance, money and banking, and international economics. Policymakers within those fields will also find the book to be of great interest.
Contributors: C. Altomonte, F. Bruni, K. Lannoo, H. Martens, J. Mistral, F. Passarelli, D. Schwarzer, C. Secchi, A. Villafranca, F. Zuleeg
Contents:

Foreword

Introduction

1. Shaping a New World Economic Governance: A Challenge for America and Europe
Jacques Mistral

2. Do We Understand It? Forbidden Questions on the Financial Crisis
Franco Bruni

3. Concrete Steps Towards More Integrated Financial Oversight: The EU’s Policy Response to the Crisis
Karel Lannoo

4. Institutional and Policy Dynamics in the EMU’s Internal Governance and External Representation
Daniela Schwarzer

5. EU Fiscal Policy in the Age of Turbulence: Will the Lisbon Strategy Survive It?
Carlo Altomonte, Francesco Passarelli and Carlo Secchi

6. Beyond the Current Crisis: How Should Europe Deal with Government Deficits and Public Debt in Future?
Fabian Zuleeg and Hans Martens

7. Feeling the Heat: Towards a Revised Governance of Climate Change
Antonio Villafranca

Index