This book provides a much-needed detailed analysis of the evolution of
Europe over the last decade, as well as a discussion about the path of
reform that has been trodden in the aftermath of the financial crisis.
It offers a multidisciplinary view of the E(M)U and captures the main
factors that induced the reform of the monetary union - a process that
has not been linear and is far from being concluded.
The author examines the policy responses designed throughout the
development of the crisis and assesses the scale of the crisis in
Europe, in comparison to other parts of the world, as well as its
prolonged effects both in economic and financial terms. An update on the
current 'state of the art' in the conception of risk-sharing mechanisms
is provided. With its innovative approach, the book analyses the
financing issues which need to be taken into consideration in the design
of these instruments and highlights the main categories of governmental
risk-sharing mechanisms - in particular, the ones to be used as 'fiscal
capacity'.
This is a timely and topical book and will be of interest to a broad
audience, including experts, scholars and students of European affairs,
particularly those with economic, financial, legal and political science
backgrounds.