Europe in Crisis: More Political Integration in the Eurozone is the Solution

Teodoro Dario Togati

Chapter 5 in Europe and the Financial Crisis, 2011, pp 91-105 from Palgrave Macmillan

Abstract: Abstract There is no doubt that the world economy has recently faced one of the worst global crises since the Great Depression. It is also quite indisputable that Europe is one of the worst affected areas. Not only do European growth rates tend to be lower than those of the US or emerging economies, but also even the existence of the Eurozone is at risk. The sovereign debt of various European countries, such as Greece and Spain, has come under massive speculative attack on financial markets, despite the fact that other countries are even more indebted. For this reason, several euro members have approved various austerity plans that threaten a double-dip scenario.

Keywords: Monetary Policy; Structural Reform; Sovereign Debt; Economic Constitution; Political Union (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-30500-7_6

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DOI: 10.1057/9780230305007_6

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