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EMU sustainability and the prospects of peripheral economies

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  • Papaspyrou Theodoros

    (Bank of Greece)

Abstract

The paper analyses initiatives undertaken to contain the impact of the sovereign debt crisis and improve economic governance in emu and examines further some fundamental questions about emu’s sustainability looking at emu’s performance for far and at its main strengths and weaknesses. A basic conclusion is that decisions undertaken to improve economic governance strengthened decisively the “weaponry” of the EU and individual member states to overcome the crisis, although existing mechanisms must be further strengthened and new instruments created. Peripheral economies can win the growth game within a better functioning emu once they will have adopted a more sustainable growth model.

Suggested Citation

  • Papaspyrou Theodoros, 2012. "EMU sustainability and the prospects of peripheral economies," Economic Bulletin, Bank of Greece, issue 36, pages 7-29, April.
    • Handle: RePEc:bog:econbl:y:2012:i:36:p:7-29
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    File URL: https://www.bankofgreece.gr/BogEkdoseis/econbull201204.pdf
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    EMU;

    JEL classification:

    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • F3 - International Economics - - International Finance
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • F5 - International Economics - - International Relations, National Security, and International Political Economy

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