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Lacking "Europeanisation" of National Business Cycles as a Risk for the Euro Area

Fritz Breuss ()

Austrian Economic Quarterly, 2009, vol. 14, issue 2, 91-104

Abstract: Ten years after the start of EMU, the global financial market crisis is putting its viability to a test. In the absence of other mechanisms to smooth such a shock, a higher degree of economic policy co-ordination and closer co-operation between the euro area member countries and the ECB is urgently recommended. These steps could promote the necessary convergence towards a "European business cycle".

Keywords: Harmonisation of the business cycle; Monetary Union; financial market crisis (search for similar items in EconPapers)
Date: 2009
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Handle: RePEc:wfo:wquart:y:2009:i:2:p:91-104