The Euro: Market Failure or Central Bank Failure?

Jörg Bibow

Challenge, 2002, vol. 45, issue 3, pages 83-99

Abstract: Why has the value of the euro fallen? This economist believes that the European Central Bank's efforts to support the euro slowed economic growth to the point that it caused the value of the euro to fall. He traces the ECB's policy errors in recent years as a failure to understand the pro-growth bias of financial markets. He thinks Europe cannot rely on exports to drive growth indefinitely and must start to promote growth in its domestic market.

Date: 2002

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