Euroland and the World Economy

1. Introduction: Euroland and the World Economy — Global Player or Global Drag?
Jörg Bibow, Andrea Terzi

Part I. Euroland on a Collision Course

2. Global Imbalances, Bretton Woods II, and Euroland’s Role in All This
Jörg Bibow

3. Wage Divergences in Euroland: Explosive in the Making
Heiner Flassbeck

4. Can the Euro Area Play a Stabilizing Role in Balancing Global Imbalances?
Philip Arestis, Malcolm Sawyer

Part II. Policy Coordination and Increased Integration as Means to Properly Steer Euroland

5. Whatever Happened to ‘Policy Coordination’?
James Forder

6. The Economic Rationale of the EMU and the Euro
C. Sardoni

7. Righting Global Imbalances: Recession, Protection or Reflation?
Alex Izurieta, George Irvin

Part III. Reforming Euroland’s Institutional Framework and Macroeconomic Policy Governance

8. Replacing the Stability and Growth Pact?
C. A. E. Goodhart

9. Fiscal Policy and Macroeconomic Performance in the Euro Area: Lessons for the Future
Eckhard Hein, Achim Truger

10. Germany’s Choice and Lessons from Japan: Supply vs. Demand Policy, Fiscal vs. Monetary Policy
Richard Werner

11. You Can’t Always Get What You Want: Why Europe is Not Keynesian-able While the US New Economy is Driven by Financial Keynesianism
Riccardo Bellofiore, Joseph Halevi

Part IV. Prospects and Limits of the Euro as a Global Currency

12. ‘Not my fault’ or Would Spreading the Maastricht Wisdom beyond Europe Really Do Much Good at All?
Fabrice Capoen, Jérôme Creel

13. The Role of the Euro in the International Monetary Arena: Present and Prospects
Sergio Rossi

14. International Payments Imbalances and the Prospective Role of the Euro
Andrea Terzi

Keywords: Economics, International Economics, Macroeconomics/Monetary Economics//Financial Economics, Regional/Spatial Science