Estabilidad y competitividad en la Unión Monetaria Europea

Ferran Brunet Cid
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Ferran Brunet Cid: Universitat Autònoma de Barcelona

EKONOMIAZ. Revista vasca de Economía, 2013, vol. 82, issue 01, 81-106

Abstract: Structural non-competiveness and unruly policies have provoked severe financial instability and put certain euro zone countries in a shocking situation. Indeed, the entire European Union is at economic and political systemic risk. In this paper we shall analyze the coinciding conditions which helped generate this perfect and fatal storm: a) the structures of the European economy and of some Member States; b) the non-optimal currency zone that is the euro area; c) the profligate policies of certain governments and institutions; and d) the deficit in European economic governance. Newer and tougher mechanisms for European financial stability and detailed government measures for budget sustainability and structural reforms need to be most effective to be able to address the risks and challenges many States, and the Union itself, are facing.

Keywords: Stability; Competitiviness; European Monetary Union; Economic Policy; Europe (search for similar items in EconPapers)
JEL-codes: E63 F15 L51 O47 (search for similar items in EconPapers)
Date: 2013
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