Whither the Euro? History and Crisis of Europe's Single-Currency Project

Robert Guttmann and Dominique Plihon ()
Additional contact information
Dominique Plihon: CEPN - Centre d'Economie de l'Université Paris Nord - UP13 - Université Paris 13 - USPC - Université Sorbonne Paris Cité - CNRS - Centre National de la Recherche Scientifique

Post-Print from HAL

Abstract: In this contribution we trace that recurrent pattern of financial crisis and institutional reform shaping the European integration project through its key chapters to arrive at the sovereign-debt crisis of the euro-zone which has already seen huge bail-out packages for three countries (Greece, Ireland, Portugal) as well as the introduction of several new crisis-management mechanisms. By taking a historical approach we can identify the structural flaws besetting the single-currency project from its inception and illustrate how they morphed into the different facets of a systemic crisis in the face of an asymmetric shock from the US-centered "subprime" crisis in 2007/08.

Keywords: euro; euro-zone crisis; optimal currency area (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Published in Martin Wolfson & Gerald Epstein. The Handbook of the Political Economy of Financial Crises, Oxford University Press, pp.357-377, 2013, 9780199757237

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:hal:journl:hal-01345534

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().