The crisis of the EMU
AbstractThe Euro Zone (EZ)’s economies are under great stress since last decade’s financial crisis. Diverging interest rates, high debt burdens and sluggish growth in several member countries led to various rescue activities. Nevertheless, financial markets have still not calmed and the break-up of the EZ is discussed openly. Contrary to the popular belief I show that the Euro itself has been a success story so far but the EZ suffers under a debt crisis and huge economic imbalances. An overhaul of the EZ’s institutional framework, however, is necessary.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 40390.
Date of creation: 31 Jul 2012
Date of revision:
financial crisis; Euro crisis; current account imbalances; monetary union;
Find related papers by JEL classification:
- F34 - International Economics - - International Finance - - - International Lending and Debt Problems
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
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