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The Concept of National Parallel Currencies for the Eurozone

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  • Dirk Meyer

Abstract

Dirk Meyer, Helmut-Schmidt University, Hamburg, presents a concept of national parallel currencies for the Eurozone. In the case of a state insolvency this would enable a country to exit the monetary union while still using the euro as a means of payment. The introduction of national parallel currencies should enable the respective states to resolve their problems through exchange rate adjustments and access to an independent monetary policy.

Suggested Citation

  • Dirk Meyer, 2012. "The Concept of National Parallel Currencies for the Eurozone," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 65(16), pages 19-28, August.
    • Handle: RePEc:ces:ifosdt:v:65:y:2012:i:16:p:19-28
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    References listed on IDEAS

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    1. Hans-Werner Sinn & Timo Wollmershäuser, 2012. "Target loans, current account balances and capital flows: the ECB’s rescue facility," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 19(4), pages 468-508, August.
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    4. Hans-Werner Sinn & Timo Wollmershäuser, 2011. "Target-Kredite, Leistungsbilanzsalden und Kapitalverkehr: Der Rettungsschirm der EZB," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 64, pages 01-29, June.
    5. Seidel, Martin, 2010. "Der Euro: Schutzschild oder Falle," ZEI Working Papers B 01-2010, University of Bonn, ZEI - Center for European Integration Studies.
    6. Vaubel, Roland, 1990. "Currency Competition and European Monetary Integration," Economic Journal, Royal Economic Society, vol. 100(402), pages 936-946, September.
    7. Benjamin Born & Teresa Buchen & Kai Carstensen & Christian Grimme & Michael Kleemann & Klaus Wohlrabe & Timo Wollmershäuser, 2012. "Withdrawal of Greece from the European Monetary Union: Historical experience, macroeconomic consequences and organisational implementation," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 65(10), pages 09-37, May.
    8. John Hawkins & Paul Masson, 2003. "Economic aspects of regional currency areas and the use of foreign currencies," BIS Papers chapters, in: Bank for International Settlements (ed.), Regional currency areas and the use of foreign currencies, volume 17, pages 4-42, Bank for International Settlements.
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    More about this item

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • G01 - Financial Economics - - General - - - Financial Crises

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