IDEAS home Printed from https://ideas.repec.org/a/bas/econst/y2015i1p3-15.html

Influence of the Euro Crisis on the Prospects of the European Single Market

Author

Listed:
  • Elena Makrevska Disoska

Abstract

There is a growing concern about the future of the European Monetary Union (EMU) and the sustainability of the Euro. The worst case scenario: the break-up of the Single currency would not remain limited to the EMU itself, but would cause huge macroeconomic disruptions. Furthermore, if the countries reintroduce their national currencies, economically stronger countries will experience domestic currency appreciation towards the weaker economic counties. That would mean reduction of their exports, i.e. reduction of the price competitiveness. In such a situation, in order to protect their domestic economies, the countries will introduce protectionist measures which would suspend the Single market. Without the free movement of factors of production it is impossible for the Union to survive. This means that if the Eurozone falls apart, there will be a complete end to the Union. Returning back to the stages of regional integration as common market or customs union is theoretically impossible. Still, in any possible scenarios for how the Euro crisis might develop would adversely affect the Single market. Solving the macroeconomic imbalance of the Union will be a condition for its sustainability in the future and for insuring better future prospects of the Single Market.

Suggested Citation

  • Elena Makrevska Disoska, 2015. "Influence of the Euro Crisis on the Prospects of the European Single Market," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 3-15.
    • Handle: RePEc:bas:econst:y:2015:i:1:p:3-15
    as

    Download full text from publisher

    File URL: http://www.ceeol.com/aspx/issuedetails.aspx?issueid=4eef1726-e551-4497-8e2e-2b80b020b66e&articleid=afc6933e-55ad-4cc9-a06a-b6377bed77c3#aafc6933e-55ad-4cc9-a06a-b6377bed77c3
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Athanassiou, Phoebus, 2009. "Withdrawal and expulsion from the EU and EMU: some reflections," Legal Working Paper Series 10, European Central Bank.
    2. David H. Romer & Jeffrey A. Frankel, 1999. "Does Trade Cause Growth?," American Economic Review, American Economic Association, vol. 89(3), pages 379-399, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jinsuk Yang & Qing Hao & Mahmut Yaşar, 2023. "Institutional investors and cross‐border mergers and acquisitions: The 2000–2018 period," International Review of Finance, International Review of Finance Ltd., vol. 23(3), pages 553-583, September.
    2. Ferreira, Pedro Cavalcanti & Galvao Jr., Antonio F. & Gomes, Fabio Augusto Reis & Pessoa, Samuel de Abreu, 2010. "The effects of external and internal shocks on total factor productivity," The Quarterly Review of Economics and Finance, Elsevier, vol. 50(3), pages 298-309, August.
    3. Wei, Shang-Jin & Wu, Yi, 2001. "Globalization and Inequality: Evidence from within China," CEPR Discussion Papers 3088, C.E.P.R. Discussion Papers.
    4. Azmat Gani & Nisar Ahmad, 2020. "Has Economic Growth of China and India Impacted African Economic Prosperity?," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 48(3), pages 375-385, September.
    5. Ines Lindner & Holger Strulik, 2020. "Innovation And Inequality In A Small World," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 61(2), pages 683-719, May.
    6. Oro, Oro Ufuo & Alagidede, Paul, 2018. "The Nature of the finance–growth relationship: Evidence from a panel of oil-producing countries," Economic Analysis and Policy, Elsevier, vol. 60(C), pages 89-102.
    7. Philip Stevens & Jasson Urbach & Gabrielle Wills, 2013. "Healthy Trade: The Relationship Between Open Trade and Health," Foreign Trade Review, , vol. 48(1), pages 125-135, February.
    8. Mkandawire, Petros, 2023. "Do environmental provisions in preferential trade agreements affect climate protection performance?," 2023 Seventh AAAE/60th AEASA Conference, September 18-21, 2023, Durban, South Africa 365880, African Association of Agricultural Economists (AAAE).
    9. Vieira, Flávio & MacDonald, Ronald & Damasceno, Aderbal, 2012. "The role of institutions in cross-section income and panel data growth models: A deeper investigation on the weakness and proliferation of instruments," Journal of Comparative Economics, Elsevier, vol. 40(1), pages 127-140.
    10. Ramon Moreno, 2001. "Pegging and stabilization policy in developing countries," Economic Review, Federal Reserve Bank of San Francisco, pages 17-29.
    11. Bert Minne & Dinand Webbink, 2008. "Raising teacher supply: An assessment of three options for increasing wages," CPB Memorandum 194.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
    12. Iamsiraroj, Sasi, 2016. "The foreign direct investment–economic growth nexus," International Review of Economics & Finance, Elsevier, vol. 42(C), pages 116-133.
    13. Malefane, Malefa R & Odhiambo, Nicholas M, 2018. "Trade openness and economic growth: empirical evidence from Lesotho," Working Papers 23787, University of South Africa, Department of Economics.
    14. Olper, Alessandro & Curzi, Daniele & Swinnen, Johan, 2018. "Trade liberalization and child mortality: A Synthetic Control Method," World Development, Elsevier, vol. 110(C), pages 394-410.
    15. Dong, Zhiqiang & Zhang, Yongjing, 2016. "Accumulated social capital, institutional quality, and economic performance: Evidence from China," Economic Systems, Elsevier, vol. 40(2), pages 206-219.
    16. Marta Marson & Donatella Saccone & Elena Vallino, 2023. "Total trade, cereals trade and undernourishment: new empirical evidence for developing countries," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 159(2), pages 299-332, May.
    17. Lederman, Daniel,Saenz, Laura, 2005. "Innovation and development around the world, 1960-2000," Policy Research Working Paper Series 3774, The World Bank.
    18. Tovar, Jorge, 2012. "Consumers’ Welfare and Trade Liberalization: Evidence from the Car Industry in Colombia," World Development, Elsevier, vol. 40(4), pages 808-820.
    19. Luigi Pascali, 2017. "The Wind of Change: Maritime Technology, Trade, and Economic Development," American Economic Review, American Economic Association, vol. 107(9), pages 2821-2854, September.

    More about this item

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bas:econst:y:2015:i:1:p:3-15. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Diana Dimitrova (email available below). General contact details of provider: https://edirc.repec.org/data/ikbasbg.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.