Unhappy Union
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Krátky popis
The euro was supposed to create an unbreakable bond between the
nations and people of Europe. But when the debt crisis struck, the
flaws of the half-built currency has brought the EU close to
breaking point after decades of post-war integration. Deep
fault-lines have opened up between European institutions and the
nation-states, and often between the rulers and the ruled, raising
profound questions about Europe's democratic deficit. Belief in
European institutions and national governments alike is waning,
while radicals of both the left and the right are gaining power and
influence. Europe's leaders have so far proved the doomsayers wrong
and prevented the currency from breaking up. ",If the euro fails,
Europe fails,", says Angela Merkel. Yet the euro, and the European
project as a whole, is far from safe. If it is to survive and
thrive, leaders will finally have to confront difficult decisions.
How much national sovereignty are they willing to give up to create
a more lasting and credible currency? How much of the debt burden
and banking risk will they share? Is Britain prepared to walk away
from the EU? And will other countries follow? In their astute
analysis of the crisis, the authors describe America's
behind-the-scenes lobbying to salvage the euro, economists' bitter
debates over austerity, the unseen manoeuvres of the European
Central Bank and the tortuous negotiations over banking union. In
the final chapter, they set out the stark choices confronting
Europe's leaders and citizens.
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