The Trilemma and the Eurozone: A Pre-announced Tragedy of the Hellenic Debt Crisis
El Thalassinos and
Theodore V. Stamatopoulos
International Journal of Economics & Business Administration (IJEBA), 2015, vol. III, issue 3, pages 27-40
The main aim of this article is to analyse the theoretical background regarding monetary policy, money and capital markets with a reference to the Greek economy. From an international point of view the recent crisis has been affected by the incompleted financial market, problems of instability and political failure. The structure of Eurozone was another weak link in the establishment of an effective economic environment able to survive during the recent financial crisis however most of the concequences have affected the weak economies of the region. In fact the Hellenic economy with the structural inequilities in the labor, money and capital markets has been influenced hardly because the Greek government failed to take measures to manage the crisis. The Internationaal Financial Non-System with the trilemma problem in the design of a strong monetary policy can be attributed to the Hellenic crisis in a specific way as it is described in the article.
Keywords: Trilemma; financial crisis; debt crisis (search for similar items in EconPapers)
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Persistent link: http://EconPapers.repec.org/RePEc:ers:ijebaa:v:ii:y:2015:i:3:p:27-40
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