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Macroeconomic Theory and Macroeconomic Logic: The Case of the Euro Crisis

In: Economic Crisis, Development and Competitiveness in Southeastern Europe

Author

Listed:
  • Heiner Flassbeck

    (Flassbeck-Economics)

Abstract

The last 7 years have been a tumultuous period for Europe and the unrest is far from over. The global crisis that began in 2007 led to a sharp financial shock in 2008–9, which ushered in a recession across the world. Europe—including Germany—was hit hard as credit contracted and international trade shrunk. The real crisis in Europe, however, commenced in 2009–10 as the recession induced a worsening of public finances that triggered off a gigantic crisis in the Eurozone.

Suggested Citation

  • Heiner Flassbeck, 2016. "Macroeconomic Theory and Macroeconomic Logic: The Case of the Euro Crisis," Contributions to Economics, in: Anastasios Karasavvoglou & Dimitrios Kyrkilis & Georgios Makris & Persefoni Polychronidou (ed.), Economic Crisis, Development and Competitiveness in Southeastern Europe, pages 3-22, Springer.
    • Handle: RePEc:spr:conchp:978-3-319-40322-9_1
    DOI: 10.1007/978-3-319-40322-9_1
    as

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