The Eurozone Crisis: More Than a Spillover

Piya Mahtaney

Chapter 3 in Globalization and Sustainable Economic Development, 2013, pp 41-53 from Palgrave Macmillan

Abstract: Abstract As elucidated in the previous chapter, the origin of the financial meltdown that occurred in 2008 was the US economy. Having said that, the underpinnings of the present slowdown, uncertainty, and even tumult at times that continue in the Eurozone are the result of unaddressed imperatives that existed for years preceding the crisis. Notably the crisis has exacerbated vulnerabilities of certain European nations; however, it did not cause the basic structural deficiencies in these economies be it those of Greece, Portugal, Italy, Spain, or Ireland.

Keywords: Banking Sector; Public Debt; Monetary Union; European Monetary Union; Current Account Deficit (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-02499-2_4

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DOI: 10.1057/9781137024992_4

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