Completing the euro: The euro treasury and the job guarantee

Esteban Cruz-Hidalgo (), Dirk Ehnts and Pavlina Tcherneva
Additional contact information
Esteban Cruz-Hidalgo: Universidad de Extremadura
Authors registered in the RePEc Author Service: Esteban Cruz Hidalgo

Revista de Economia Critica, 2019, vol. 27, 100-111

Abstract: The problems with the design of the Eurozone came into focus when, late in 2009, several member nations – notably Greece – failed to refinance their government debt. The crisis that followed was not entirely a surprise. When the Euro was launched in 1999, many economists warned that the single currency was unworkable. Even Eurozone optimists argued that the Euro project would eventually need to be completed. More than 10 years after the crisis, unemployment rates remain elevated and continue to threaten the social, political and economic stability of the Eurozone. The institutional constraints of the single currency however preclude bold action to address these challenges. In this paper, we suggest that tackling the twin problems of the Eurozone – its institutional flaws and mass unemployment – could be addressed by creating a Euro Treasury that would finance a Job Guarantee program, which would eliminate mass unemployment, enhance price stability, and foster social and economic integration across Europe.

Keywords: Euro; Euro Treasury; Job Guarantee; Monetary Sovereignty (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://revistaeconomiacritica.org/index.php/rec/article/view/217/202

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ret:ecocri:rec27_09

Access Statistics for this article

More articles in Revista de Economia Critica from Asociacion de Economia Critica Contact information at EDIRC.
Bibliographic data for series maintained by Universidad Pablo de Olavide, Biblioteca-CRAI, Servicio de Publicación Digital ().