On Origins and Implications of the Sovereign Debt Crisis in the Euro Area
Rajmund Mirdala () and
MPRA Paper from University Library of Munich, Germany
The current crisis in the Euro Area is mostly a serious crisis of confidence. Its solutions have to be systematic and consistent. Our paper discusses its main systematic reasons while keeps in mind the European integration and globalization issues of the world economy and economic financial markets. Recent problems in the Euro area are based on the diagnostic of the origins of the balance of payments and self-fulfilling crisis, and discussed in the context of suggested remedies and solutions based on diversification of the monetary policy management in the Euro Area to eliminate the moral hazard from its financial sector, creation of a functioning system of fiscal transfers and finding a compromise between centralization and decentralization and government interventionism and “laissez faire”.
Keywords: Euro; Euro Area; economic crisis; fiscal policy; monetary policy (search for similar items in EconPapers)
JEL-codes: E58 E62 F15 F32 (search for similar items in EconPapers)
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Published in Journal of Advanced Studies in Finance 2.6(2015): pp. 87-102
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:68859
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