What Went Wrong with the Euro?

Mike Tsionas

Chapter Chapter 2 in The Euro and International Financial Stability, 2014, pp 5-15 from Springer

Abstract: Abstract The first fact has to do with the “creative accounting” of EU bureaucracy. The creation of the euro zone was largely a political decision in the altar of which they sacrificed actual deficits, actual rates of inflation and public debt as a percentage of GDP. These aggregate indicators are easy to monitor but they are not always transparent to the public. More importantly, as aggregate indicators are only rough measures of the fiscal burden or economic efficiency.

Keywords: Exchange Rate; Interest Rate; Monetary Policy; Commercial Bank; Public Debt (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:fimchp:978-3-319-01171-4_2

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DOI: 10.1007/978-3-319-01171-4_2

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