THE CRISIS OF THE EUROPEAN MONETARY UNION

Peter Schmid ()
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Peter Schmid: Catholic University Eichstätt-Ingolstadt, Germany, Postal: DE

Theoretical and Practical Research in the Economic Fields, 2012, vol. 3, issue 2, 109-120

Abstract: The Euro Zone (EZ)’s economies are under great stress since last decade’s financial crisis. Diverging interest rates, high debt burdens and sluggish growth in several member countries led to various rescue activities. Nevertheless, financial markets have still not calmed and the break-up of the EZ is discussed openly. Contrary to the popular belief I show that the Euro itself has been a success story so far but that the EZ suffers under a debt crisis and huge economic imbalances. An overhaul of the EZ’s institutional framework is necessary.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:srs:jtpref:v:3:y:2012:i:2:p:109-120

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