16.08.16

“The Future of the Euro”, de Matthias Matthijs e Mark Blyth

Vale a pena ler o livro “The Future of the Euro”, de Matthias Matthijs e Mark Blyth.

“The euro problem – the result of three forgotten unions quite distinct from the monetary union – developed over a much longer period than a focus on the European sovereign debt crises of 2010-2012 would suggest. (…) The great crash of 2008 was merely the catalyst. Those three forgotten unions were a financial (and not just banking) union, coherent institutions of supranational economic government (a fiscal union that uses a common debt instrument), and a political union holding comparable democratic-legitimacy to the European nation-state (…). The debt crisis in southern Europe is first and foremost a particular regional manifestation of the broader global economic crisis that began with the unwinding of an over-leveraged global financial system in 2007, and has been magnified and intensified by the institutional failings of Europe’s Economic and Monetary Union”.

“The Future of the Euro”, de Matthias Matthijs e Mark Blyth, Oxford United Press, 2015