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Exit, exclusion, and parallel currencies in the euro area

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  • Siekmann, Helmut

Abstract

[Introduction ...] The following questions which are closely related to each other but deserve a distinctively different treatment have to be answered: I. Is it legally possible for a Member State to leave the eurozone? II. May Member State introduce a new currency parallel to the euro? III. Can a Member State be excluded from the eurozone or the Monetary Un-ion? IV. May permission be granted to introduce a new currency in a Member State of the eurozone? V. What are the consequences of an illegal exit from the eurozone?

Suggested Citation

  • Siekmann, Helmut, 2015. "Exit, exclusion, and parallel currencies in the euro area," IMFS Working Paper Series 99, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    • Handle: RePEc:zbw:imfswp:99
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    References listed on IDEAS

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    1. Helmut Siekmann, 2015. "The Legal Framework for the European System of Central Banks," Financial and Monetary Policy Studies, in: Frank Rövekamp & Moritz Bälz & Hanns Günther Hilpert (ed.), Central Banking and Financial Stability in East Asia, edition 127, pages 43-86, Springer.
    2. Hal S. Scott, 1998. "When the Euro Falls Apart," International Finance, Wiley Blackwell, vol. 1(2), pages 207-228, December.
    3. Scott, Hal S, 1998. "When the Euro Falls Apart," International Finance, Wiley Blackwell, vol. 1(2), pages 207-228, December.
    4. Thomas Eger & Hans-Bernd Schäfer (ed.), 2012. "Research Handbook on the Economics of European Union Law," Books, Edward Elgar Publishing, number 13923.
    5. Bitros, George C., 2013. "European Union failures in Greece and some possible explanations," MPRA Paper 45017, University Library of Munich, Germany.
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    Cited by:

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    2. Hossein Nabilou, 2020. "Testing the waters of the Rubicon: the European Central Bank and central bank digital currencies," Journal of Banking Regulation, Palgrave Macmillan, vol. 21(4), pages 299-314, December.

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