Mayer, Thomas; Schnabl, Gunther - In: Intereconomics : review of European economic policy 55 (2020) 6, pp. 387-391
The coronavirus crisis has caused new distress in the European Economic and Monetary Union (EMU), as the southern part … of the EMU has been hit stronger than the northern part. The common currency prevents nominal exchange rate adjustment in … German mark. The pre-EMU pressure for structural adjustments and productivity gains would be restored. …