Europe’s economic dilemma

Europe's economic dilemma:
John Mills is an economist, businessman, local councillor and Secretary of the Labour Euro-Safeguards Campaign. In this book he analyses the reasons why for a quarter of a century the economies of the countries of the European Union have done so much worse than the world average. It concludes that the major reason has been politically driven attempts to lock EU currencies together in inappropriate economic circumstances. These have led to chronic deflation, rising unemployment and falling investment and competitiveness as EU Member States, without exchange rate flexibility, have found themselves unable to compete with Germany.

The book then turns to proposals for overcoming the EU's current economic short-comings. It concludes that the way ahead is not to proceed with the single currency. Instead there should be a much more accommodating monetary and macro-economic strategy. This should include appropriately managed exchange rate flexibility, designed to generate an economic environment in which EU countries can return to the growth rates and full employment last seen in the 1950s and 1960s.

Mills, John
Europe's economic dilemma
Macmillan, 1998
ISBN: 0-333-71837-2 (Hbk)/ 0-333-72821-1 (Pbk)
Price: £45.00 (Hbk)/ £15.99 (Pbk)