Mathieu, Catherine; Sterdyniak, Henri - Sciences économiques, Sciences Po - 2014
The 2007 crisis highlighted the drawbacks of the euro area framework which were already there from the launch of the … economic policies. Euro area governance (no public debts guarantee by the ECB, arbitrary rules focusing on public finances only … austerity policies led the euro area to fall in depression and undermined euro area cohesion. The procedures implemented …