Crise da União Europeia (why pigs can’t fly)

Cláudio Gontijo
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Cláudio Gontijo: FACE-UFMG

No 483, Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais

Abstract: This article analyses the roots of the European debt crisis, which started at the end of 2009 and embraced the so called PIGS, causing a global turbulence. It studies the historical genesis of the European Monetary Union since the decade of 1970, in connection with the dynamics of the international economy, the theoretical foundations of the Maastricht Treaty and the economic policies of the Union, as well as the evolution of the traditional macroeconomic indicators of the block and the PIGS up to 2010. It shows that the conservative thesis that populist policies are at the origins of the crisis does not fit the data.

Keywords: European debt crisis; financial crises; European Monetary Union; Euro. (search for similar items in EconPapers)
JEL-codes: E3 E44 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2013-06
New Economics Papers: this item is included in nep-mac
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