Euro: The Main Problems and Solutions

Leszek Balcerowicz

Chapter 1 in Poland and the Eurozone, 2014, pp 3-12 from Palgrave Macmillan

Abstract: Abstract Two main objections are raised against the euro. The first is expressed in a popular statement: ‘One monetary policy can’t fit all’, which implies that countries, especially larger ones, should have their own currencies, and — as a result — floating rates of exchange. The second objection is contained in another popular saying: ‘Monetary union requires fiscal (political) union’. I will discuss these two objections and present my own view as to what are the main weaknesses of the euro architecture in its present form and what should be done to improve it.

Keywords: Monetary Policy; Central Bank; European Central Bank; Monetary Union; Structural Reform (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:stuchp:978-1-137-42641-3_1

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DOI: 10.1057/9781137426413_1

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