Abstract
In response to the euro crisis, the euro area has adopted an export-led recovery and growth strategy. With Germany as the example to be emulated, and its labor market reforms of the past decade in particular, especially the crisis-ridden member states in the south are instructed to improve their cost competitiveness in order to accumulate export surpluses with which to repay their debt. Emerging economies as the global growth engines of the coming decades are identified as the markets that should absorb these trade surpluses. How realistic are these objectives and the instruments that are identified to attain them? Are the right lessons drawn from the German example? This introduction lays out this problématique and introduces the main arguments, theoretical framework and research design of the book.
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De Ville, F., Vermeiren, M. (2016). Introduction. In: Rising Powers and Economic Crisis in the Euro Area. Global Reordering. Palgrave Pivot, London. https://doi.org/10.1057/978-1-137-51440-0_1
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DOI: https://doi.org/10.1057/978-1-137-51440-0_1
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Publisher Name: Palgrave Pivot, London
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