© 2014

The Eurozone Crisis and the Future of Europe

The Political Economy of Further Integration and Governance

  • Daniel Dăianu
  • Giorgio Basevi
  • Carlo D’Adda
  • Rajeesh Kumar

Part of the International Political Economy Series book series (IPES)

Table of contents

  1. Front Matter
    Pages i-xiii
  2. Introduction

    1. Daniel Dăianu, Rajeesh Kumar
      Pages 1-8
  3. Overview: Analytics of the Euro Area Crisis

    1. Giorgio Basevi, Carlo D’Adda
      Pages 9-22
  4. Economic Imbalances and the Euro Area Crisis

    1. Front Matter
      Pages 23-23
    2. Jerome L. Stein
      Pages 25-39
    3. Julius Horváth, Martin Šuster
      Pages 40-59
  5. Crisis Management in the Euro Area: The Interplay between Politics and Economics

    1. Front Matter
      Pages 107-107
    2. Jonathan Story
      Pages 109-125
    3. Carlo D’Adda
      Pages 138-153
    4. Pradumna B. Rana, Michael R. Blomenhofer
      Pages 170-188
  6. The Euro Area: Looking into the Future

About this book


The authors uncover the roots of the eurozone crisis, focusing on how this can be solved against the backdrop of a very deep financial and economic crisis and its strong social impact. Looking at the impact of the financial crisis on the eurozone, they explore the European Union's recent and future developments.


European Union eurozone crisis finance financial crisis development Euro Euro area Europe European Integration European Union (EU) Governance Italy political economy

Editors and affiliations

  • Daniel Dăianu
    • 1
  • Giorgio Basevi
    • 2
  • Carlo D’Adda
    • 3
  • Rajeesh Kumar
    • 4
  1. 1.National School of Political and Administrative StudiesBucharestRomania
  2. 2.University of BolognaItaly
  3. 3.University of BolognaItaly
  4. 4.School of International StudiesJawaharlal Nehru UniversityIndia

About the editors

Anton Hemerijck, VU University Amsterdam, The Netherlands Bodo Herzog, Reutlingen-University, Germany Brigitte Young, University of Muenster, Germany Fabian Zuleeg, European Policy Centre, Belgium Francesco Nicoli, European Policy Centre, Belgium Giorgio Basevi, University of Bologna, Italy Jerome L. Stein, Brown University, USA Jonathan Story, INSEAD, France Julius Horvath, Central European University, Hungary Karlhans Sauernheimer, Johannes Gutenberg-University, Germany Kunibert Raffer, University of Vienna, Austria Martin Suster, National Bank of Slovakia, Bratislava Michael R. Blomenhofer, Kroll, Singapore Pradumna B. Rana, Nanyang Technological University, Singapore Radu Vranceanu, ESSEC Business School, Paris, France

Bibliographic information

Industry Sectors
Finance, Business & Banking


"As the conventional wisdom goes, the euro crisis resulted from the combination of many factors: the subprime/global financial crisis, real estate bubbles, excessive government deficits, the debts of some countries of the eurozone and so on. This book goes beyond these standard rationales. Instead, it highlights how the loss of competitiveness in Southern countries led to a widely neglected but highly influential phenomenon, namely, a sharp increase in external debt. By analyzing all aspects of the euro crisis, this work raises fundamental questions about the relevance and sustainability of the euro for a group of countries whose competitiveness and unit labour costs vary so widely. This book makes a valuable contribution by offering a unique perspective on efforts to understand the euro crisis." - Serge Rey, University of PAU

"This volume examines the eurozone crisis in depth, from all points of view, and in a scholarly manner (but intelligible also by the layman). A gem is the chapter by the late Jerome Stein on the diversity of debt crises in Europe, based on his NATREX model. I highly recommend this book not only to professionals, but also to the general public of interested persons." - Giancarlo Gandolfo, Accademia Nazionale dei Lincei, Rome, Italy