Crisis in the Eurozone Buchzusammenfassung - das Wichtigste aus Crisis in the Eurozone

Zusammenfassung von Crisis in the Eurozone

Costas Lapavitsas and others

Understand the root of the eurozone crisis.

3.9 (15 Bewertungen)
16 Min.

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Crisis in the Eurozone by Costas Lapavitsas and others examines the economic background and policy decisions that led to the 2008 crisis in the Eurozone, offering insights into the causes of the crisis and proposing alternative strategies for recovery.

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    Higher inflation rates explain why some countries suffered more than others in the eurozone crisis.

    The economies in the eurozone area are all connected, but when the euro crisis hit Europe in 2009, different countries were affected in different ways. Some countries, like Germany (in the core of the eurozone), fared better than others, like Greece (on the periphery).

    What caused the differing impacts of the crisis?

    We can’t attribute the phenomenon to GDP growth rates, because these were similar across the eurozone.

    The GDP growth rate is a metric that helps determine a country’s economic health: GDP is a barometer for how much a country produces over a period of time; its growth rates describe the increase in output from one period to the next.

    In the eurozone, countries experienced similar GDP growth at the beginning of the 2000s. Greece’s GDP growth rate was about 4 percent, whereas Germany’s was 3.7 percent.

    So if GDP growth wasn’t a factor, can unemployment rates explain why Germany fared better than Greece?

    Unfortunately, they can’t either. In 2006, 8.9 percent of people in Greece were unemployed whereas Germany’s unemployment rate was at 11 percent.

    Thus, just like GDP growth rates, unemployment rates can’t explain the disproportionate impact of the eurozone crisis.

    However, there is one thing that can explain the imbalance: Germany and Greece had vastly different inflation rates, which turned out to be harmful for Greece’s economy.

    Inflation rates refers to how much prices increase over time. In 2006, Greece had an inflation rate of 3.2 percent while Germany’s was 1.58 percent, or half of that.

    The higher rate of inflation meant that Greek products were more and more expensive in comparison to German products, which made Greek companies less competitive.

    So higher inflation rates were a big reason that Greece was hit so hard by the eurozone crisis. But what was causing them?

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    Worum geht es in Crisis in the Eurozone?

    These blinks explain the root of the eurozone crisis in a comprehensive, methodical way. They shed light on the deep structural problems the eurozone is facing and outline scenarios that could help restore competitiveness among the southern peripheral states of the region.

    Bewertung von Crisis in the Eurozone

    Crisis in the Eurozone (2012) is an insightful exploration of the economic challenges faced by the European Union and offers valuable perspectives on potential solutions. Here's why this book is worth reading:

    • Offers a comprehensive analysis of the causes and consequences of the eurozone crisis, providing a deeper understanding of the complex economic landscape.
    • Presents alternative viewpoints and bold policy proposals that challenge conventional wisdom, encouraging readers to think critically about the issues at hand.
    • With its accessible language and clear explanations, the book is engaging and thought-provoking, ensuring that readers won't find it boring.

    Bestes Zitat aus Crisis in the Eurozone

    The sovereign debt crisis has its roots as much in the performance of Germany as it does in the actions of peripheral countries.

    —Costas Lapavitsas and others
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    Wer Crisis in the Eurozone lesen sollte

    • Anyone who wants to better understand the eurozone crisis
    • Anyone interested in macroeconomics
    • Anyone interested in fiscal policy

    Über den Autor

    Costas Lapavitsas is a professor at the University of London’s School of Oriental and African Studies. He is also a member of the Research on Money and Finance (RMF) think tank.

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    Crisis in the Eurozone FAQs 

    What is the main message of Crisis in the Eurozone?

    The main message of Crisis in the Eurozone is an analysis of the causes and consequences of the European debt crisis.

    How long does it take to read Crisis in the Eurozone?

    The reading time for Crisis in the Eurozone varies depending on the reader, but it typically takes a few hours. The Blinkist summary can be read in just 15 minutes.

    Is Crisis in the Eurozone a good book? Is it worth reading?

    Crisis in the Eurozone is a valuable read for anyone interested in understanding the complexities of the European debt crisis and its impact on the global economy.

    Who is the author of Crisis in the Eurozone?

    The author of Crisis in the Eurozone is Costas Lapavitsas and others.