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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 by FT Press

Published Date: Nov 4, 2012

Description

Will the Euro survive? Where is the European financial crisis headed? What will it mean for global and US markets? In this up-to-the-minute 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 book offers profound new 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.

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

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ISBN-10: 0-13-313376-1

ISBN-13: 978-0-13-313376-9

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