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The More It Changes, the More It Stays the Same

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Europe and the End of the Age of Innocence

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Abstract

Nothing much has happened with the euro since 2012 as the currency crisis abated, bringing about a dangerous feeling of complacency. No substantial reforms have been undertaken to correct the original flaws plaguing the single currency’s architecture as a result of which the euro remains at the mercy of the next crisis waiting to happen. This chapter reminds us of how the euro crisis was misdiagnosed as a fiscal one and how the wrong medicine of across-the-board austerity was administered, worsening the situation. The so-called bailout of Greece was in fact a disguised bailout of foreign creditor banks promoted by ideologically driven parties that have not been shy about advancing their own interests.

Nothing much has happened with the euro in the past few years and this is worrying

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Notes

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    Francesco M. Bongiovanni

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Bongiovanni, F.M. (2018). The More It Changes, the More It Stays the Same. In: Europe and the End of the Age of Innocence. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-74370-7_9

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  • DOI: https://doi.org/10.1007/978-3-319-74370-7_9

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