Convergence and Divergence in the Eurozone

Bruno Dallago

Chapter 5 in One Currency, Two Europes:Towards a Dual Eurozone, 2016, pp 161-192 from World Scientific Publishing Co. Pte. Ltd.

Abstract: To work properly, the Eurozone buildup and functioning should comply with a number of requirements. Among the most important are the following. First, European integration and globalisation should be compatible in order to assure the smooth working of markets. While regional economic integration is known for creating trade within the integrated area and diverting trade from outside the area to its inside, in an open and integrated world economy this process should advantage the member countries of the area without reducing its trade with the rest of the world. This aim was largely implemented and also trade of the European Union (EU) with the rest of the world increased.

Keywords: Crisis (International; European); Financial Crisis; Euro; European Policies; European Union; Eurozone; Institutions; Optimum Currency Area (search for similar items in EconPapers)
Date: 2016
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