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The Euro Disaster: How the Crisis will Continue – Possible and Probable Scenarios

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  • Matthias Elbers

Abstract

Matthias Elbers, formerly of the specialist finance publication “Der Neue Kämmerer”, presents his view of the euro crisis. For Elbers the crisis is essentially a balance-of-payments crisis of several European economies, triggered by chronic balance-of-payment deficits that were subsequently exacerbated by capital flight. In his opinion, the chronic balance-of-payments deficits of the crisis states are the direct result of the political project of European currency union. In other words, the euro itself is the cause of the crisis.

Suggested Citation

  • Matthias Elbers, 2012. "The Euro Disaster: How the Crisis will Continue – Possible and Probable Scenarios," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 65(16), pages 29-34, August.
    • Handle: RePEc:ces:ifosdt:v:65:y:2012:i:16:p:29-34
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    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • G01 - Financial Economics - - General - - - Financial Crises

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