The evaluation of European Economic Governance assessing weaknesses in aggregate demand control.

The European economy is emerging from its deepest recession since the 1930s. This volume, which brings together economic analysis from the European Commission services, explains how swift policy response avoided a financial meltdown. Europe also needs an improved co-ordinated crisis-management framework to help it respond to any similar situations that may arise in the future. Economic Crisis in Europe is a much-anticipated volume which shows that the beginnings of such a crisis-management framework are emerging, building on existing institutions and legislation and complemented by new initiatives.

This booklet contains a series of articles putting forward original suggestions of how to achieve economic growth in an extremely constrained environment. Economic growth is becoming the most viable method of resolving rising national debt issues. The existing methods of reducing the increasing private and public sector debts have become limited as a result of market forces and political pressure. Outgrowing debt is favourable compared to cuts in consumption and government spending. New techniques to enable greater economic growth are provided including expanding Governmental Commerce, Internationally Commercialised Innovation, Taxation Efficiencies, Supplementary Income and alterations in Pension Saving Payment Allowances. The booklet offers a fresh approach to macroeconomic policy, which will help to stimulate growth and enable new business operations. The new economic tools devised will give politicians alternative options to avoid implementing hard hitting policies.

This book contains the macroeconomic and pension reform paper, "The Pension Problem and the Current Pension Rebate" which was originally published electronically in 2006. The paper was sent to various government ministers starting what became continually extensive communication between Morganist Economics and politicians. This movement developed new macroeconomic and pension policies that were implemented to stabilise the economy. After the high level of application of the contents of the paper and the implementation of the recommended pension reforms, put forward by Morganist Economics, the targeted rates of economic growth and inflation were attained between 2010 to 2019. Public sector debt cost efficiencies were achieved by rearranging governmental pension taxation relief liability payments, through altering the methodology of annually contributing into pension schemes. The new concepts and technical workings in this paper led to unprecedented economic stability and tremendous governmental financial savings between 2010 to 2019. Pension saving has been optimised and the implementation of the new Morganist school of economic thought has become an extremely successful reality. Pension saving is now a macroeconomic tool in its own right, proven effective by its extensive application within the United Kingdom. The paper was originally well received, being acknowledged with great support from various politicians and government ministers. The former Chancellor of the Exchequer the Rt Hon George Osborne, confirms this in a letter enclosed in this book. Although it has mainly been adopted by the Conservative party, aspects of the Morganist school of economic thought have been well utilised by all of the mainstream political parties within the United Kingdom.

This book contains a series of articles commenting on the global financial crisis. Explanations of the main causes of the global financial crisis are provided along with descriptions of the operations and processes of the institutions involved. Critiques of the actions implemented by governments and central banks are included along with alternative solutions, which may provide remedies and new insights to the difficulties seen in the financial sector in recent years. There is no favoured political stance, although some articles may relate to left or right wing views. The book looks at the global financial crisis purely from an economic perspective, with an agenda of promoting ideas intended to create progress. As the book is the first volume of articles putting forward the progressive Morganist school of economic thought, the emphasis of the content is to provide original approaches to improve economic and financial policies globally.

We examine economic convergence among euro area countries on multiple dimensions. While there was nominal convergence of inflation and interest rates, real convergence of per capita income levels has not occurred among the original euro area members since the advent of the common currency. Income convergence stagnated in the early years of the common currency and has reversed in the wake of the global economic crisis. New euro area members, in contrast, have seen real income convergence. Business cycles became more synchronized, but the amplitude of those cycles diverged. Financial cycles showed a similar pattern: sychronizing more over time, but with divergent amplitudes. Income convergence requires reforms boosting productivity growth in lagging countries, while cyclical and financial convergence can be enhanced by measures to improve national and euro area fiscal policies, together with steps to deepen the single market.