Reflections on Americans' Views of the Euro Ex Ante
AbstractThis paper was prepared for a session of the 2009 American Economic Association meeting devoted to examining the views of American economists about the euro and the European Economic and Monetary Union on the tenth anniversary of the euro. I had written an article in 1992 in the Economist and subsequent articles in the Journal of Economic Perspecties and in Foreign Affairs. I begin by reviewing the arguments that I offered at that time about the claimed advantages of a single currency and about what I regarded as the disadvantages. I then discuss my claims that the primary motivation for the creation of the euro was political, not economic and that the creation of the euro could lead to increased conflict within Europe and with the United States. I conclude with a discussion of the implications for the EMU of the current recession and the likely future economic conditions in Europe.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 14696.
Date of creation: Jan 2009
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Find related papers by JEL classification:
- F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
- F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
- F5 - International Economics - - International Relations, National Security, and International Political Economy
- F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-01-31 (All new papers)
- NEP-CBA-2009-01-31 (Central Banking)
- NEP-EEC-2009-01-31 (European Economics)
- NEP-OPM-2009-01-31 (Open Economy Macroeconomics)
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:CitEc Project, subscribe to its RSS feed for this item.
- Bordo, Michael D. & Meissner, Christopher M. & Stuckler, David, 2010.
"Foreign currency debt, financial crises and economic growth: A long-run view,"
Journal of International Money and Finance,
Elsevier, vol. 29(4), pages 642-665, June.
- Michael Bordo & David Stuckler & Chris Meissner, 2009. "Foreign Currency Debt, Financial Crises and Economic Growth: A Long Run View," Working Papers 921, University of California, Davis, Department of Economics.
- Michael D. Bordo & Christopher M. Meissner & David Stuckler, 2009. "Foreign Currency Debt, Financial Crises and Economic Growth: A Long Run View," NBER Working Papers 15534, National Bureau of Economic Research, Inc.
- Drazen Derado, 2009. "Financial Integration and Financial Crisis: Croatia Approaching The EMU," Financial Theory and Practice, Institute of Public Finance, vol. 33(3), pages 299-328.
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