IDEAS home Printed from https://ideas.repec.org/a/eej/eeconj/v25y1999i1p63-76.html
   My bibliography  Save this article

The Expected Failure of the European Economic and Monetary Union: A False Money against the Real Economy

Author

Listed:
  • Alain Parguez

    (University of Franche Comte
    University of Ottawa)

Abstract

To convince international financial investors of the high real value of the Euro, the EMU has established rules that must be enforced in both the short and the long run. These rules are explained and the economics behind them criticized in the context of a monetary production economy in which financial markets play a central role. It is argued that the Euro cannot be an anchor for a new world financial order.

Suggested Citation

  • Alain Parguez, 1999. "The Expected Failure of the European Economic and Monetary Union: A False Money against the Real Economy," Eastern Economic Journal, Eastern Economic Association, vol. 25(1), pages 63-76, Winter.
    • Handle: RePEc:eej:eeconj:v:25:y:1999:i:1:p:63-76
    as

    Download full text from publisher

    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume25/V25N1P63_76.pdf
    Download Restriction: no

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Caro Emiliano ti scrivo...
      by Alberto Bagnai in Goofynomics on 2012-07-22 22:33:00

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Orsola Costantini, 2020. "The Eurozone as a Trap and a Hostage: Obstacles and Prospects of the Debate on European Fiscal Rules," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 55(5), pages 284-291, September.
    2. Sheila Dow, 2016. "Ontology and Theory for a Redesign of European Monetary Union," World Economic Review, World Economics Association, vol. 2016(6), pages 1-1, February.
    3. Canale, Rosaria Rita & Napolitano, Oreste, 2009. "The recessive attitude of EMU policies: reflections on the italian experience, 1998–2008," MPRA Paper 20207, University Library of Munich, Germany.
    4. Engelbert Stockhammer & Collin Constantine & Severin Reissl, 2020. "Explaining the Euro crisis: current account imbalances, credit booms and economic policy in different economic paradigms," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 43(2), pages 231-266, April.
    5. Eric Tymoigne & L. Randall Wray, 2013. "Modern Money Theory 101: A Reply to Critics," Economics Working Paper Archive wp_778, Levy Economics Institute.
    6. Marc Lavoie, 2013. "The State, the central bank and the monetary circuit," Chapters, in: Louis-Philippe Rochon & Mario Seccareccia (ed.),Monetary Economies of Production, chapter 2, pages 11-22, Edward Elgar Publishing.
    7. Marc Lavoie, 2015. "The Eurozone: Similitudes and differences with Keynes's Plan," IMK Working Paper 145-2015, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    8. Facchini François, 2016. "The Hayek-Keynes Macro Debate Continues," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 22(1), pages 1-13, July.
    9. John Smithin, 2013. "Credit creation, the monetary circuit and the formal validity of money," Chapters, in: Louis-Philippe Rochon & Mario Seccareccia (ed.),Monetary Economies of Production, chapter 5, pages 41-53, Edward Elgar Publishing.
    10. Alain Parguez, 2014. "The true rules of a good management of public finance. An explanation of the fatal Eurozone crisis," Chapters, in: Riccardo Bellofiore & Giovanna Vertova (ed.),The Great Recession and the Contradictions of Contemporary Capitalism, chapter 9, pages 151-164, Edward Elgar Publishing.

    More about this item

    Keywords

    EMU; Monetary Union; Monetary; Money;

    JEL classification:

    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

    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:eej:eeconj:v:25:y:1999:i:1:p:63-76. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Matheson, College of the Holy Cross). General contact details of provider: http://edirc.repec.org/data/eeaa1ea.html .

    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.

    We have no references for this item. You can help adding them by using 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.