Eurozone: the high cost of complacency

Eloi Laurent

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Abstract: As the Eurozone is celebrating its first decade of existence this January 2009, a paradox strikes the observer. Caught by the "Icelandic fever," Eastern and even Northern small open EU economies are rushing to adopt the Euro. Yet, the region finds itself in deep recession for the first time since its creation. So the Euro is attractive, but the Eurozone is inert. How to make sense of this seeming contradiction? (...).

Date: 2009-01
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Published in The Economists' Voice, 2009, pp.1-4

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Journal Article: Eurozone: The High Cost of Complacency (2009)
Working Paper: Eurozone: the high cost of complacency (2009)
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