Euro-Dependence—A Peripheral Look beyond the Monetary Union: A Proposal of Reform of the TARGET2

Juan Barredo-Zuriarrain, Ricardo Molero-Simarro and Alejandro Quesada-Solana

Review of Radical Political Economics, 2017, vol. 49, issue 3, 375-393

Abstract: This paper seeks to present a proposal of reform of the TARGET2 (Trans-European Automated Real-Time Gross Settlement Express Transfer) system aimed to correct intra-European Union (EU) financial, trade, and productive imbalances. For this purpose, the proposal relies on the application of the Keynes Plan’s principles to a regional integration process. Previously, the origins of the EU imbalances are traced to the shortcomings of the European monetary integration. Finally, the reforms needed to make the TARGET2 a rebalancing system are discussed in depth. JEL Classification: F32, F33, F36

Keywords: European Monetary Union; intra-EU imbalances; Keynes Plan; regional monetary systems; TARGET2 reform (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:49:y:2017:i:3:p:375-393

DOI: 10.1177/0486613417703958

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