The International Crisis and its Origin

Bruno Dallago

Chapter 2 in One Currency, Two Europes:Towards a Dual Eurozone, 2016, pp 29-75 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The international crisis started in the United States in 2007–2008. It is in that country that the first clear signs of financial distress and the risk coming from unsustainable financial and real bubbles were concentrated. The three decades preceding the crisis were a period of considerable financial innovation and restructuring of industry. The latter took often place through mergers and acquisitions (M&A), often led by financial and fiscal considerations. The US economy became a huge and dynamic financial machine that led to innovation, economic growth and the accumulation of financial and real bubbles.

Keywords: Crisis (International; European); Financial Crisis; Euro; European Policies; European Union; Eurozone; Institutions; Optimum Currency Area (search for similar items in EconPapers)
Date: 2016
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