Implications of the Euro: A Critical Perspective from the Left

by Baimbridge; Mark

• ISBN13: 9780415380713
• ISBN10: 0415380715
• Edition: 1st
• Format: Nonspecific Binding
• Copyright: 2006-01-13
• Publisher: Routledge

Summary

To date, critical analysis of the EMU project has largely been advanced from the center-right spectrum of British politics. Comparable questions from the center-left have failed to find a coherent voice. Although the European fault-line cannot be characterized as a neat Left-Right issue there are noticeable divisions in opinion across British business, the trade union movement and within the Labour Party. Implications of the Euro offers a unique insight into this key debate from the "center-left," eurosceptic viewpoint. This book provides a rigorous analysis of all the salient economic and political issues of concern, such as: the economics of a single currency, employment and social implications, as well as issues of sovereignty and political determination. The arguments presented in this volume highlight the emergence of a coherent alternative to deepening economic integration as a platform to build a just and equitable society. Contributions are drawn from leading academics, tradeunion leaders and prominent politicians, both from the Labour Party and the wider progressive Left in British politics. This informative and thought provoking book will be indispensable reading for students and practitioners in economics, politics and international relations, as well as those interested in this highly contentious topic.

Table of Contents

List of illustrations	x
Notes on contributors	xii
Foreword	xix
David Owen
Preface	xxv
Bryan Gould
Acknowledgements	xxviii
The left and the euro	1	(11)
Philip Whyman
Mark Baimbridge
Brian Burkitt
The great debate: the Labour Party and European integration	12	(25)
Andy Mullen
PART I The economics of a single currency	37	(66)
Economic consequences of EMU for Britain	39	(13)
Jonathan Michie
What type of European monetary union?	52	(8)
Malcolm Sawyer
Philip Arestis
Economic performance and the euro	60	(11)
Janet Bush
The euro: an outsider's perspective	71	(6)
Paul Ormerod
The ECB in theory and practice	77	(8)
Mark Baimbridge
The left must wake up -- Europe isn't working	85	(6)
Larry Elliott
A post-Keynesian strategy for the UK economy	91	(12)
Philip Whyman
Brian Burkitt
Mark Baimbridge
PART II Employment and social aspects of EMU	103	(52)
The European social model: myth or reality?	105	(6)
Brian Burkitt
Voting no -- the euro and Labour voters	111	(7)
Matthew Mcgregor
What future in the European Union?	118	(6)
Joe Marino
Hooked to the falling stars	124	(8)
Doug Nicholls
A safe European home?	132	(5)
Billy Hayes
British trade unions and EMU: natural supporters or conflicting interests?	137	(8)
Philip Whyman
The European social model: between a rock and a hard place?	145	(10)
Matthew Watson
PART III Sovereignty and political determination	155	(57)
How the euro threatens the well-being of the planet and its people	157	(11)
Molly Scott Cato
EMU and British sovereignty	168	(7)
Brian Burkitt
Euro versus the people	175	(11)
Austin Mitchell
The establishment of a Commonwealth of Europe	186	(10)
Tony Benn
Fighting against federalism	196	(6)
Rediscovering progressive economic policy outside EMU	202	(10)
Philip Whyman
Brian Burkitt
Mark Baimbridge
Glossary	212	(6)
Bibliography	218	(12)
Index	230