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“Euro” Crisis. Origins, State and Perspectives

Paolo Piacentini

No 6, Working Papers from ASTRIL - Associazione Studi e Ricerche Interdisciplinari sul Lavoro

Abstract: During the past year, speculative attacks on titles of Sovereign Debt of weaker member countries,endangering the continuation of the common currency area itself, were eventually contained by statements and actions of the European Central Bank, capable to convince the "market" that "defaults" would not occur at least in a near horizon. However, the institutional and structural flaws of "Eurosystem" are still there, and "Eurocrisis", meant as the crisis of real economies of member countries facing the effect of fiscal adjustments appears to get worse.These notes are meant to recall these original weaknesses and critical developments of the Euro area, in a joint consideration of the financial and real aspects of the crisis deployment.

Keywords: Eurozone. Financial Crisis; Eurocrisis (search for similar items in EconPapers)
JEL-codes: E02 E61 F62 (search for similar items in EconPapers)
Date: 2013-01
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