EURO CRISIS

THE EURO CRISIS AND INTERNATIONAL LIQUIDITY PROBLEMS

Author--Debesh Bhowmik

Publisher--Synergy Books India

(www.synergybooksindia.com

24/4800,Ansari Road ,Darya Ganj,NewDelhi-110002

HB,Page-xxiv+305,Price-Rupees 995/-

The book is the post- doctoral work of the author and Clem Tisdell, The Emeritus Professor of Economics of The University of Queensland ,Australia has written the foreword.

Euro crisis is the hottest topic in the world economic affairs or rather in international liquidity problem because debt crisis of Euro Area particularly in some countries created the financial crisis in EU from which the existence of Euro becomes questionable, although it was originated from US financial crisis during 2008.Existence of currency area and single currency depend on the suitable and realistic policies to revive Euro to its original path of progress towards monetary and economic integration. Even, the Euro has been playing a great role in maintaining the stability of international monetary system.

In this context, the book “ The Euro Crisis and International Liquidity Problems ”is very relevant in the area of international monetary issues that govern the international money. The problem of Euro crisis is not an independent issue rather it is deeply correlated with the currency hegemony in the world payment mechanism. Therefore, the book studied the historical perspective of EU and the convergence criteria, causes of Euro crisis-its various impacts, including developing countries and the implications of Euro crisis on the international monetary system , political economy concept of the crisis  are of special importance. The impact on Indian Economy is added for an extra study area . The macro fundamentals and issues in money market of Euro crisis could not be avoided with sound reasons of the genesis of the problem. The international role of Euro may throw light on the genesis of international liquidity problems as well as the euro as international money will justify the issue of international money game. The diagnostic test of the econometric analysis of the Euro crisis could not be considered as an insignificant part of the book.The problems and Prospects of the recovery of the crisis is also an important discussion of the book.

Lastly, the Euro crisis has been discussed from every corner of the economic aspect of the problem relating to international liquidity issues and its root causes. This book, The Euro Crisis and International Liquidity Problems, is a timely publication given the serious international financial and economic repercussions of the Euro Crisis and the economic suffering which it is causing within the EU itself. Furthermore, it is a crisis that has not yet been solved and consequently, its impacts and likely to be felt for several years to come.

This book containing 14 chapters tried to search the inherent causes and evolving roots of the Euro Area debt crisis which finally turned into financial crisis, as well as it showed some policy issues to revive the Stability of Euro, to increase the international liquidity for Euro, and to find out the policies to solve the debt crisis of the debt ridden countries. The Euro crisis had been related with the international monetary system and political economy concept of Euro zone which ultimately would able to clarify the genuine solution and revival process of the Euro crisis. we cannot infer immediately that capitalist integration fails or the process of capitalist integration has been confronting with severe capitalist crisis rather the co-operation of G8, IMF and ECB seem to be apparently favourable for survival of regional blocs in multilateral trade and world financial integration where key currency domination principle became less prior in curing euro crisis.  

The book would be able to attract researchers, professionals and policy makers as well as general readers.

The following chapters are included in this book:

[1] Euro Crisis : An introduction

[2] History of E.E.C.

[3] The Maastricht Treaty

[4] Euro Crisis : Macro fundamentals of Euro Area

[5] Euro Crisis : Impact on the developing countries

[6] Euro Crisis: impact on money market

[7] Euro Crisis : The diagnostic tests

[A] A short note on the behavior of US$/Euro exchange rate during 1999-2012

[B] Euro crisis : Co-integration of fiscal deficit of euro area

[C] Euro Crisis : The Nexus between growth and employment in EU

[8] Policies relating to Euro crisis

[9] Euro Crisis : Implications on International Monetary System

[10] Euro crisis: The concept of political economy

[11] Impact of Euro Crisis on Indian Economy

[12] International role of Euro

[13] The Euro as international money

[14] Conclusion