Advanced Search
MyIDEAS: Login to save this paper or follow this series

The Global Financial Crisis and the European Integration Project

Contents:

Author Info

  • Patrick Leblond

    ()

Registered author(s):

    Abstract

    When the global financial crisis hit the shores of Europe, after crossing the Atlantic, the Eurozone was considered a safe haven. After the first Greek bailout in May 2010, the discourse had now changed completely; the debt crisis was the euro’s fault. As a result, some argued that Greece and eventually other bailed-out member states should abandon the euro and reintroduce their national currencies. If they did not, then countries such as Germany and the Netherlands would give up on supporting them financially, forcing them to abandon the euro anyway. Yet, no such thing has happened. The euro and the European Union are still with us. In fact, European integration has been deepened as a result of the debt crisis. This paper explains why the doomsayers have been wrong on durability of the Eurozone.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.cirano.qc.ca/pdf/publication/2011s-55.pdf
    Download Restriction: no

    Bibliographic Info

    Paper provided by CIRANO in its series CIRANO Working Papers with number 2011s-55.

    as in new window
    Length:
    Date of creation: 01 Aug 2011
    Date of revision:
    Handle: RePEc:cir:cirwor:2011s-55

    Contact details of provider:
    Postal: 2020 rue University, 25e étage, Montréal, Quéc, H3A 2A5
    Phone: (514) 985-4000
    Fax: (514) 985-4039
    Email:
    Web page: http://www.cirano.qc.ca/
    More information through EDIRC

    Related research

    Keywords: Debt crisis; Euro; European integration; European Monetary Union; European Union; Financial crisis.;

    This paper has been announced in the following NEP Reports:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Marco Pagano, 2004. "The European Bond Markets under EMU," Oxford Review of Economic Policy, Oxford University Press, vol. 20(4), pages 531-554, Winter.
    2. Fabienne Ilzkovitz & Adriaan Dierx & Viktoria Kovacs & Nuno Sousa, 2007. "Steps towards a deeper economic integration: the internal market in the 21st century," European Economy - Economic Papers 271, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
    3. Salvador Barrios & Per Iversen & Magdalena Lewandowska & Ralph Setzer, 2009. "Determinants of intra-euro area government bond spreads during the financial crisis," European Economy - Economic Papers 388, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
    4. Kenen,Peter B. & Meade,Ellen E., 2008. "Regional Monetary Integration," Cambridge Books, Cambridge University Press, number 9780521862509.
    5. Richard Baldwin & Virginia DiNino & Lionel Fontagn� & Roberto A. De Santis & Daria Taglioni, 2008. "Study on the Impact of the Euro on Trade and Foreign Direct Investment," European Economy - Economic Papers 321, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
    6. Ray Barrell & Sylvia Gottschalk & Dawn Holland & Ehsan Khoman & Iana Liadze & Olga Pomerantz, 2008. "The impact of EMU on growth and employment," European Economy - Economic Papers 318, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
    7. Simone Manganelli & Guido Wolswijk, 2009. "What drives spreads in the euro area government bond market?," Economic Policy, CEPR & CES & MSH, vol. 24, pages 191-240, 04.
    8. Patrick Leblond, 2006. "The Political Stability and Growth Pact is Dead: Long Live the Economic Stability and Growth Pact," Journal of Common Market Studies, Wiley Blackwell, vol. 44, pages 969-990, December.
    9. Edda Zoli & Silvia Sgherri, 2009. "Euro Area Sovereign Risk During the Crisis," IMF Working Papers 09/222, International Monetary Fund.
    10. Jacob Funk Kirkegaard, 2010. "In Defense of Europe's Grand Bargain," Policy Briefs PB10-14, Peterson Institute for International Economics.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:cir:cirwor:2011s-55. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Webmaster).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.