La crisis del euro en perspectiva

Francesco Bogliacino and Dario Guarascio

Econógrafos, Escuela de Economía from Universidad Nacional de Colombia, FCE, CID

Abstract: In this article, we analyze the process of monetary integration in Europe, identifying the structural determinants and the dysfunctional elements in the main institutions. Secondly, we show how the prevailing discourses fail in interpreting the events. These discourses are mainly two: on the one hand, a purely ideological position that see integration as a process of convergence that should not be interfered with; on the other hand, a purely idealist perspective, according to which the ideal of integration will prevail over whatever contradiction is generated by the institutional system. The combination between these two perspectives helped to justify the post crisis intervention (fiscal consolidation) and the institutional design that followed, aggravating the instability.

Keywords: Optimal currency area; financial crisis; balance of payment; austerity; European integration (search for similar items in EconPapers)
JEL-codes: B52 F45 F53 O52 (search for similar items in EconPapers)
Pages: 44
Date: 2016-09
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https://fce.unal.edu.co/media/files/CentroEditoria ... ntos-economia-74.pdf

Related works:
Journal Article: La crisis del euro en perspectiva (2017)
Working Paper: La crisis del euro en perspectiva (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:col:000176:022933

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