Modern monetary theory and European macroeconomics

Introduction; Theoretical foundations; Substance and purposes of economic activity; Money and credit; Debts and balance sheets; The creation of bank deposits; The creation of central bank deposits; The instruments of a central bank (monetary policy); The creation of sovereign securities (fiscal policy); The sustainability of the financial; The sustainability of the financial system; Inflation and deflation; Analysis; A macroeconomic model; Europe before the euro; The situation with the euro; Reform; How do we restore demand?; The future : with or without the euro?; Conclusion; Further readings; Index