EconPapers    
Economics at your fingertips  
 

The Euro Zone Crisis and its Dimensions and Implications

M R Anand (), Girdhari Gupta and Ranjan Dash

Working Papers from eSocialSciences

Abstract: The sovereign debt problems in the peripheral economies of the euro zone has started to pose a serious threat to the main economies of the Europe and perhaps to the future of the 'euro‘ itself. Such a situation is a far cry from the optimism and grand vision that marked its launch. This paper is an attempt to understand the implications of the ongoing euro zone crisis and the factors that make it somewhat unique as the contradictions of a monetary union without a fiscal union are coming to fore. The paper shows that the crisis is not merely related to sovereign debt and bank financials, but also rooted in the real economy with structural problems. The manner in which the crisis is dealt is likely to be of far reaching significance to Europe and to the rest of the world. The stage seems set for a change in the way in which the euro zone will need to manage its monetary, fiscal and financial system. [Ministry of Finance WP]. URL:[http://finmin.nic.in/WorkingPaper/euro_zone_crisis.pdf].

Keywords: Euro zone crisis; monetary; fiscal; financial system; advanced countries; budget deficits; national debt; inflation; interest rates; exchange rates; currency; Harmonized Index of Consumer Prices (HICP); monetary aggregate; interest rate (search for similar items in EconPapers)
Date: 2012-02
Note: Institutional Papers
References: Add references at CitEc
Citations: View citations in EconPapers (12) Track citations by RSS feed

Downloads: (external link)
http://www.esocialsciences.org/Download/repecDownl ... &AId=4764&fref=repec

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ess:wpaper:id:4764

Access Statistics for this paper

More papers in Working Papers from eSocialSciences
Bibliographic data for series maintained by Padma Prakash ().

 
Page updated 2022-06-29
Handle: RePEc:ess:wpaper:id:4764