“Macroeconomic Imbalances” Factor for the Euro Area Debt Crisis

Viktor Dinev

Economic Studies journal, 2017, issue 3, 142-177

Abstract: An attempt is made to systematize the opinions concerning the causes of the debt crisis in the Euro area. The economic governance of the European Union (EU) and its reaction to the crisis are analyzed. The macroeconomic indicators of the EU member states have been examined for the period 2002-2015 (including the fourteen main indicators for macroeconomic imbalances that are monitored by the EU institutions). The study results suggest that among the EU member states there are macroeconomic imbalances of different nature and this is a factor to provoke the Euro area debt crisis. Further reforms in the institutional framework of the economic and monetary union in EU are recommended in the current economic and political conditions.

JEL-codes: E00 E60 G01 H60 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econst:y:2017:i:3:p:142-177

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