Zona Euro: un adevăr care nu convine

Lucian Croitoru

Revista OEconomica, 2012, issue 03

Abstract: In this study, we show that the main problem facing the Eurozone economy is the relatively low competitiveness of the PIIGS economies. Findings show that the defining trait of PIIGS countries is neither budget deficits, nor public debt, but rather the current account deficits. We argue that, while tightening fiscal discipline within the Eurozone is a must, it does not solve that problem.

Keywords: competitiveness; productivity; current account deficit; crisis; recession; quantitative easing; Eurozone (search for similar items in EconPapers)
JEL-codes: E58 F32 G28 H61 H62 H63 H81 J01 (search for similar items in EconPapers)
Date: 2012
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