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The End of Euro

In: Economy, Finance and Business in Southeastern and Central Europe

Author

Listed:
  • Miroslav Prokopijević

    (European University
    University of Donja Gorica
    Institute for European Studies)

Abstract

Euro was introduced to extend and strengthen the euro-integrations, but it might in turn blow them up. There is neither an econometric model nor conclusive inference to prove that euro and eurozone, as we know them, will disappear. Nevertheless, construction problems, misfortunate political decisions in monetary matters, breach of fundamental rules of the game, and their poor enforcement had created and strengthened incentives working against the survival of the zone. In order to survive, the eurozone needs to address three problems. First, who is going to pay debts of troubled countries? Second, how to keep fiscal discipline in the eurozone in order to avert another debt crisis? Third, how to regain competitiveness, not only in the troubled eurozone countries but in the whole EU? For now, the eurozone has partial answers to the first two questions, but it is short of a comprehensive and viable solution. A demise of euro and eurozone seems to be a setback to nanny state and a step toward getting rid of it in Europe.

Suggested Citation

  • Miroslav Prokopijević, 2018. "The End of Euro," Springer Proceedings in Business and Economics, in: Anastasios Karasavvoglou & Srećko Goić & Persefoni Polychronidou & Pavlos Delias (ed.), Economy, Finance and Business in Southeastern and Central Europe, pages 1-20, Springer.
    • Handle: RePEc:spr:prbchp:978-3-319-70377-0_1
    DOI: 10.1007/978-3-319-70377-0_1
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