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Europe's Financial Crisis: A Short Guide to How the Euro Fell Into Crisis and the Consequences for the World
- By John Authers
- Published Nov 4, 2012 by FT Press.
- Copyright 2013
- Dimensions: 5-3/8" x 8-1/4"
- Pages: 176
- Edition: 1st
- Book
- ISBN-10: 0-13-313371-0
- ISBN-13: 978-0-13-313371-4
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Product Author Bios
JOHN AUTHERS (London) is the Financial Times' Senior Investment Columnist, responsible for the weekly Long View and other columns on markets and investment. In a 22-year career at the FT, his previous posts have included global head of the Lex column, investment editor, US markets editor, Mexico City bureau chief and US banking correspondent. He is author of The Fearful Rise of Markets.
Will the Euro survive? Where is the European financial crisis headed? What will it mean for global and US markets? In this short book, internationally respected Financial Times journalist John Authers illuminates today's European financial crisis and the massive forces increasingly buffeting world and US economies. Authers explains why a strong recovery remains far away, why the risk of a disastrous "final" crisis remains terrifyingly real, and how investors can best navigate today's brutally challenging markets. The European Financial Crisis reveals why the 2010/2011 market rallies were so fearful, and why their underlying assumptions -- continued Chinese growth, bailouts, progress towards bank solvency, more easy "Fed" money -- have proven so tenuous. Above all, Authers shows how the Eurozone crisis uncovers today's worst unaddressed risk: the markets' loss of confidence in governments. This brief discussion offers insights into underlying flaws in the banking system and the Eurozone's structure that remain unaddressed; how cheap money and bailouts have bought time that is rapidly running out; and the increasingly frightening signs of "perverse synchronization": forex, equity, credit, and commodity markets massively moving in tandem. He also offers specific recommendations for what policymakers can and must do now to restore the long-term health of the global markets.
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9 of 10 people found the following review helpful
Why write this book?, By
This review is from: Europe's Financial Crisis: A Short Guide to How the Euro Fell Into Crisis and the Consequences for the World (Paperback)
Customer review from the Amazon Vine™ Program (What's this?)
This is not a bad book in the sense of being badly written or saying obviously false things. It's a chapter-by-chapter account of the European financial crisis that follows contemporaneous reporting closely. In other words, it's more or less what you would get if you went back and reread the dozen or so most important Financial Times articles about the topic. Since you can do exactly that on the Internet with little work, why buy this book?One of the advantages of a book is you can take a few pages, or even a chapter, early on to explain some important concepts in detail. For example, the author could have explained credit default swaps or bank capital requirements or government accounting. In a news story, journalists usually can only manage shorthand descriptions in a sentence or two. Unfortunately this book follows the latter style, and when the topic reappears, we get another shorthand description. Another reason to write a book is you can improve the... Read more
2 of 2 people found the following review helpful
Interesting, Informative, Well-written, By
This review is from: Europe's Financial Crisis: A Short Guide to How the Euro Fell Into Crisis and the Consequences for the World (Paperback)
Customer review from the Amazon Vine™ Program (What's this?)
The global economic and financial crisis that started in 2008 is the worst such crisis in almost eighty years, and its end is nowhere in sight. It has affected everyone, and its repercussions are still being debated and studied. In recent couple of years the particularly troubling aspect of that crisis - the crisis in the finances of the Eurozone - has been grabbing the headlines and creating a lot of uncertainty in markets and economies around the world. It is hard to keep track of all that is happening in European financial world, and even harder to detangle the complex set of circumstances and events that lead to the situation that we are in right now. That's where "Europe's Financial Crisis" comes in handy - it is a relatively short yet well researched book that provides a coherent and sensible explanation of the crisis in Europe thus far.This book is organized in chapters that are mostly an expended version of articles that the author had written. They nonetheless... Read more
2 of 2 people found the following review helpful
Europe's Financial Crisis - Good Intentions, Incomplete Treatment, By
This review is from: Europe's Financial Crisis: A Short Guide to How the Euro Fell Into Crisis and the Consequences for the World (Paperback)
Customer review from the Amazon Vine™ Program (What's this?)
Europe's Financial Crisis: A Short Guide to How the Euro Fell Into Crisis and the Consequences for the World is a book that deserves credit for good intentions. This book reduces complicated themes into simple concepts. In doing this, it may be misrepresenting the causes of the current European financial crisis. There is far more opinion here than recounting of actual events. It is largely drawn from financial journalism of the last several years. But that narrow source material may not be enough to fully put the historic economic woes of Europe into the proper context.This book was written as a follow up to The Fearful Rise of Markets: Global Bubbles, Synchronized Meltdowns, and... Read more |
Online Sample Chapter
Introduction to Europe's Financial Crisis
Table of Contents
Introduction 1
Chapter 1 Genesis of the Euro 11
Chapter 2 Catalyst: Crash on Wall Street 27
Chapter 3 Emerging Markets Decouple 43
Chapter 4 Currency Wars 55
Chapter 5 Banks Bounce 67
Chapter 6 Bank-Bashing 81
Chapter 7 Europe: The Logic of Contagion 95
Chapter 8 Democrats versus Technocrats 113
Chapter 9 Risk-On, Risk-Off Markets 129
Chapter 10 2012 and After 149
Index 161
Downloadable Sample Chapter
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