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Maastricht e o Gerenciamento da União Monetária Europeia

Author

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  • Cláudio Gontijo

    (FACE-UFMG)

Abstract

This article shows that, to a large extent, the European sovereign debt crisis resulted from the institutional arrangement of Maastricht, as well as the policies pursued by the European leadership, formatted from the "new macroeconomic consensus" and the theory of optimal economic area. In particular, it argues that, largely, the crisis and its deepening resulted from the fact that the European Central Bank did not play the role of lender of last resort, as well as the implementation of policies and adjustment focused on cutting public spending and increasing taxation.

Suggested Citation

  • Cláudio Gontijo, 2013. "Maastricht e o Gerenciamento da União Monetária Europeia," Textos para Discussão Cedeplar-UFMG 484, Cedeplar, Universidade Federal de Minas Gerais.
    • Handle: RePEc:cdp:texdis:td484
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    File URL: https://www.cedeplar.ufmg.br/pesquisas/td/TD%20484.pdf
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    More about this item

    Keywords

    European Monetary Union; Euro; Maastricht Agreement.;
    All these keywords.

    JEL classification:

    • 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

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