Bernoth, Kerstin; Bremus, Franziska; Dany-Knedlik, Geraldine - 2019
We analyse the first twenty years of the euro both from an economic and an institutional perspective. We find that in … particular during the period since the financial crisis, convergence as measured by a variety of indicators has not improved …. Design flaws in the Eurozone institutional architecture have contributed importantly to this lack of convergence. This is why …