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Has the Euro Any Future Under Secular Stagnation?

In: The Euro and the Crisis

Author

Listed:
  • Francisco Louçã

    (Lisbon University)

Abstract

This chapter investigates the dynamics of the world economy and the political constraints in 2016, and then discusses the effects of the Portuguese integration in the euro. As the financial crash and then the recession unfolded, the difficulties of the European peripheral economies were amplified by austerity measures leading to social and political unrest. Finally, the chapter reviews some of the debates on the alternative strategies and considers the conditions and difficulties for a negotiation on the reduction of the external debt and namely for an exit from the Eurozone.

Suggested Citation

  • Francisco Louçã, 2017. "Has the Euro Any Future Under Secular Stagnation?," Financial and Monetary Policy Studies, in: Nazaré da Costa Cabral & José Renato Gonçalves & Nuno Cunha Rodrigues (ed.), The Euro and the Crisis, pages 95-107, Springer.
    • Handle: RePEc:spr:fimchp:978-3-319-45710-9_7
    DOI: 10.1007/978-3-319-45710-9_7
    as

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    More about this item

    Keywords

    Euro; European Union; Debt; Secular stagnation;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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