The book has been introduced by PÉTER BALÁZS, Hungarian Foreign Minister and ANDRÁS
INOTAI, Director of the Institute for World Economics of the Hungarian Academy of
Sciences.


*****

Pier Carlo Padoan:


Daniel DĂIANU sends a very strong and important warning. The main lesson from the
crisis is that to deliver their best results in terms of growth, employment and fight against
poverty, markets must be embedded in the right set of principles and rules. Without
appropriate rules there always are market failures. Without sound and timely
implementation of rules there always are policy failures. And this crisis is definitely the
result of both market and policy failures.


Jacques Pelkmans:


The book goes back to some of the roots of the current crisis and the flaws or weaknesses
of the financial system in general and in Europe in particular. In doing so, he extensively
discusses the EU monetary Union and the critical question whether, how and when the
new EU Member States can and should join the euro. Also the EU budget role and the
meaning of the so-called European Social Model are elaborated in imaginative terms. It
has a unique combination of solid knowledge of the analytical (economic) policy literature,
with insight in economic policymaking, so it has an appeal for both communities of
readers.

Dariusz Rosati:

This is an important and timely volume. Daniel Dăianu, a well-known academic economist
and a former finance minister, gives a lucid and well balanced overview of the current
financial turbulences that have hit the developed economies. Criticising the excesses of
neoliberal capitalism, Dăianu calls for implementing necessary regulatory reforms in the
financial sector and for restoration of a proper balance between the functions of the state
and the market. A highly recommended, refreshing and fascinating reading for all policy-
makers!