Awards

• Short-listed for Financial Times Best Books in Economics of the Year 2015

Overview

Full Product Details

Author:   Martin Sandbu ,  Martin Sandbu
Publisher:   Princeton University Press
Imprint:   Princeton University Press
Edition:   With a new preface by the author on Brexit and an updated chapter on Britain's place in Europe after the EU referendum
Dimensions:   Width: 15.20cm , Height: 2.00cm , Length: 23.50cm
Weight:   0.454kg
ISBN:  

9780691175942

ISBN 10:   0691175942
Pages:   344
Publication Date:   14 March 2017
Audience:   General/trade ,  College/higher education ,  General ,  Tertiary & Higher Education
Format:   Paperback
Publisher's Status:   Active
Availability:   Temporarily unavailable  
The supplier advises that this item is temporarily unavailable. It will be ordered for you and placed on backorder. Once it does come back in stock, we will ship it out to you.
Language:   English

Table of Contents

PREFACE TO THE PAPERBACK EDITION xi PREFACE xvii 1 A Giant Historic Mistake? 1 Spinelli's Proposition 1 Vindication of the Sceptics? 4 A Politics of Blackmail 7 The Disowned Currency 9 The Overlapping Goals of Monetary Unification 12 A Currency Designed by Economists 15 Misplaced Misgivings 17 Europe's Economic Drift 20 2 Before the Fall 25 A Honeymoon for the Single Currency 25 The Euro and the Genesis of the Crisis 28 One Size Fits None 29 The 'Export Competitiveness' Conundrum 35 The Euro's Lopsided Capital Flows 39 Losing the Printing Press 45 The Euro's Innocence 47 3 Greece and the Idolatry of Debt 48 The Promise of Europe 48 A Country Runs Out of Credit 51 The Difficulty of Putting Your Money Where Your Mouth Is 53 Three Great Morality Plays 55 The Costs of Compromise 59 Economic Tragedy 62 The Alternative That Could Not Be Named 67 An Escape from the Euro? 70 Killing Democracy in Its Cradle 73 Disenfranchisement without Respite 76 4 Ireland: The Private Is Political 80 An Interview Out of the Ordinary 80 One Letter and Six Months 82 Europe's Banking Addiction 85 Too Big to Fail 87 Pulled Down by a Helping Hand 90 Alternatives 93 Quid Pro Quo 98 Lehman Syndrome 101 5 Europe Digs Deeper 106 Doubling Down 106 Austere Solidarity: All Must Tighten 107 The Eurozone's Self-inflicted Second Downturn 110 Letting Zombie Banks Roam 116 Death by Accounting 118 Irreversibility Reversed 122 The Mutualisation Fix 126 The Tyranny of Technocracy 130 Germany's Conditions 133 The Logical Extreme 137 6 Righghting the Course: From Bail-Out to Bail-In 139 Learning from Failure 139 Accepting Default 140 Learning the Irish Lesson 144 Prising Loose a Deadly Embrace 146 Testing the Waters 149 Plunging In 150 Fiscal and Monetary Let-Up 155 Whatever It Takes 157 Lasting Injury 161 7 If Europe Dared to Write Down Debt 165 Renouncing 'There Is No Alternative' 165 A Stroll through Counterfactual History 166 Fail Early, Fail Often 168 Ending the Cult of the Sovereign Signature 173 Sovereign Contagion 177 Restructuring Politics: Dealing with Greece 181 Restructuring Politics: A Less Conflicted Europe 183 8 Europe's Real Economic Chahallenges 189 Three Tasks 189 Making the Eurozone Safe from Sudden Stops 190 Idling Europe's Economic Engine 197 A Pact Long in Need of Reform 204 Encouraging Long-term Growth 208 Unexploited Opportunities 215 9 The Politics Thahat the Euro Needs 217 Cracks in the Consensus? 217 A 'New Deal'? 217 Choosing an Alternative 221 France: The Duumvir that Abdicated 226 Germany: The Reluctance of the Hegemon 228 Insurrections 232 From Restored National Autonomy to Renewed European Integration 239 10 Great Britain or Little England? 243 The Real Choice for Britain in Europe 243 Counterfactual History: Crisis Policy with Britain in the Euro 244 Brown's Five Tests Today 251 Greater Guernsey? 260 The Euro and National Power 265 11 Remembmbering Whahat the Euro Is For 267 What Is at Stake 267 Exonerating the Euro: A Summary of the Argument 268 The Euro and Economic Strength 270 Unity in Diversity 272 NOTES 275 INDEX 307

Reviews

"Financial Times Best Books in Economics of the Year One of Financial Times (FT.com) Best Books in Economics 2015, chosen by Martin Wolf ""Refreshingly eccentric.""--Wolfgang Streek, London Review of Books ""Well-written and closely argued,Europe's Orphanought to delight the smarter supporters of European integration and will challenge some long-held assumptions of their euroskeptic opponents, not least the perception that the currency union has gnawed away at the international competitiveness of the eurozone's weaker economies.""--Andrew Stuttaford, Wall Street Journal ""Books that attack the conventional wisdom are refreshing. They force us to rethink. That is what Martin Sandbu'sEurope's Orphandoes--and what makes it stand out in the increasingly crowded field of eurocrisis analysis... [S]timulating and important.""--Paul De Grauwe, Financial Times ""[A] stimulating and entertaining book... [Sandbu] has performed a public service by challenging the present dreary consensus on the fate of the euro and, in his final chapter, by reminding us what the single currency was for.""--Richard Lambert, Prospect ""Financial Times writer Sandbu (Just Business) looks past current headlines to the ideals and realpolitik strategy behind the Eurozone, arguing that it remains Europe's best hope for preserving global relevance... The book cogently explains why scapegoating the euro for Europe's economic and political disunity is nonsense.""--Publishers Weekly ""A highly intelligent, thought-provoking book, to be read by anyone who follows contemporary macroeconomic policy.""--Tyler Cowen, Marginal Revolution ""Martin Sandbu's book is a robust and generally well-informed critique of the handling of the euro-area crisis.""--Patrick Honohan, Irish Times ""The book provides a sophisticated 'liquidationist' alternative to the dominant rhetoric.""--Martin Wolf, Financial Times, a FT Best Book of 2015 ""[A] valuable recent book on the Euro crisis.""--Arthur Goldhammer, The American Prospect ""Intelligent, well-sourced, controversial.""--Anders Horntvedt, Finansavisen ""These provocative and insightful arguments are particularly valuable at a time when austerity retains its intellectual luster despite its manifest failures.""--Andrew Moravcsik, Foreign Affairs ""A spirited defense and a thoughtful reinterpretation of the eurozone's unpromising recent history.""--Mark Harrison, Enterprising Investor"

One of Financial Times (FT.com) Best Books in Economics 2015, chosen by Martin Wolf Refreshingly eccentric. --Wolfgang Streek, London Review of Books Well-written and closely argued,Europe's Orphanought to delight the smarter supporters of European integration and will challenge some long-held assumptions of their euroskeptic opponents, not least the perception that the currency union has gnawed away at the international competitiveness of the eurozone's weaker economies. --Andrew Stuttaford, Wall Street Journal Books that attack the conventional wisdom are refreshing. They force us to rethink. That is what Martin Sandbu'sEurope's Orphandoes--and what makes it stand out in the increasingly crowded field of eurocrisis analysis... [S]timulating and important. --Paul De Grauwe, Financial Times [A] stimulating and entertaining book... [Sandbu] has performed a public service by challenging the present dreary consensus on the fate of the euro and, in his final chapter, by reminding us what the single currency was for. --Richard Lambert, Prospect Financial Times writer Sandbu (Just Business) looks past current headlines to the ideals and realpolitik strategy behind the Eurozone, arguing that it remains Europe's best hope for preserving global relevance... The book cogently explains why scapegoating the euro for Europe's economic and political disunity is nonsense. --Publishers Weekly A highly intelligent, thought-provoking book, to be read by anyone who follows contemporary macroeconomic policy. --Tyler Cowen, Marginal Revolution Martin Sandbu's book is a robust and generally well-informed critique of the handling of the euro-area crisis. --Patrick Honohan, Irish Times The book provides a sophisticated 'liquidationist' alternative to the dominant rhetoric. --Martin Wolf, Financial Times, a FT Best Book of 2015 [A] valuable recent book on the Euro crisis. --Arthur Goldhammer, The American Prospect Intelligent, well-sourced, controversial. --Anders Horntvedt, Finansavisen These provocative and insightful arguments are particularly valuable at a time when austerity retains its intellectual luster despite its manifest failures. --Andrew Moravcsik, Foreign Affairs A spirited defense and a thoughtful reinterpretation of the eurozone's unpromising recent history. --Mark Harrison, Enterprising Investor

One of Financial Times (FT.com) Best Books in Economics 2015, chosen by Martin Wolf One of Financial Times (FT.com) Best Books in Economics 2015, chosen by Martin Wolf Refreshingly eccentric. --Wolfgang Streek, London Review of Books Well-written and closely argued,Europe's Orphanought to delight the smarter supporters of European integration and will challenge some long-held assumptions of their euroskeptic opponents, not least the perception that the currency union has gnawed away at the international competitiveness of the eurozone's weaker economies. --Andrew Stuttaford, Wall Street Journal [A] stimulating and entertaining book... [Sandbu] has performed a public service by challenging the present dreary consensus on the fate of the euro and, in his final chapter, by reminding us what the single currency was for. --Richard Lambert, Prospect Financial Times writer Sandbu (Just Business) looks past current headlines to the ideals and realpolitik strategy behind the Eurozone, arguing that it remains Europe's best hope for preserving global relevance... The book cogently explains why scapegoating the euro for Europe's economic and political disunity is nonsense. --Publishers Weekly Books that attack the conventional wisdom are refreshing. They force us to rethink. That is what Martin Sandbu'sEurope's Orphandoes--and what makes it stand out in the increasingly crowded field of eurocrisis analysis... [S]timulating and important. --Paul De Grauwe, Financial Times A highly intelligent, thought-provoking book, to be read by anyone who follows contemporary macroeconomic policy. --Tyler Cowen, Marginal Revolution Martin Sandbu's book is a robust and generally well-informed critique of the handling of the euro-area crisis. --Patrick Honohan, Irish Times The book provides a sophisticated 'liquidationist' alternative to the dominant rhetoric. --Martin Wolf, Financial Times, a FT Best Book of 2015 [A] valuable recent book on the Euro crisis. --Arthur Goldhammer, The American Prospect Intelligent, well-sourced, controversial. --Anders Horntvedt, Finansavisen These provocative and insightful arguments are particularly valuable at a time when austerity retains its intellectual luster despite its manifest failures. --Andrew Moravcsik, Foreign Affairs A spirited defense and a thoughtful reinterpretation of the eurozone's unpromising recent history. --Mark Harrison, Enterprising Investor

One of Financial Times (FT.com) Best Books in Economics 2015, chosen by Martin Wolf Refreshingly eccentric. --Wolfgang Streeck, London Review of Books Well-written and closely argued, Europe's Orphan ought to delight the smarter supporters of European integration and will challenge some long-held assumptions of their euroskeptic opponents, not least the perception that the currency union has gnawed away at the international competitiveness of the eurozone's weaker economies. --Andrew Stuttaford, Wall Street Journal [A] stimulating and entertaining book... [Sandbu] has performed a public service by challenging the present dreary consensus on the fate of the euro and, in his final chapter, by reminding us what the single currency was for. --Richard Lambert, Prospect Financial Times writer Sandbu (Just Business) looks past current headlines to the ideals and realpolitik strategy behind the Eurozone, arguing that it remains Europe's best hope for preserving global relevance... The book cogently explains why scapegoating the euro for Europe's economic and political disunity is nonsense. --Publishers Weekly Books that attack the conventional wisdom are refreshing. They force us to rethink. That is what Martin Sandbu's Europe's Orphan does--and what makes it stand out in the increasingly crowded field of eurocrisis analysis... Europe's Orphan is a stimulating and important book. --Paul De Grauwe, Financial Times [T]his is ... a highly intelligent, thought provoking book, to be read by anyone who follows contemporary macroeconomic policy. --Tyler Cowen, Marginal Revolution Martin Sandbu's book is a robust and generally well-informed critique of the handling of the euro-area crisis. --Patrick Honohan, Irish Times The book provides a sophisticated 'liquidationist' alternative to the dominant rhetoric. --Martin Wolf, Financial Times, a FT Best Book of 2015 [A] valuable recent book on the Euro crisis. --Arthur Goldhammer, The American Prospect Intelligent, well-sourced, controversial. --Anders Horntvedt, Finansavisen These provocative and insightful arguments are particularly valuable at a time when austerity retains its intellectual luster despite its manifest failures. --Andrew Moravcsik, Foreign Affairs A spirited defense and a thoughtful reinterpretation of the eurozone's unpromising recent history. --Mark Harrison, Enterprising Investor

Author Information

Martin Sandbu has been writing about economics for the Financial Times since 2009. Formerly the newspaper's economics leader writer, he currently writes the newspaper's Free Lunch premium economics newsletter. Previously, he was a senior research fellow at the Zicklin Center for Business Ethics Research at the Wharton School of the University of Pennsylvania. He is the author of Just Business: Arguments in Business Ethics.

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