In the current debate on the reasons and implications of the Greek and Irish euro crisis, the intra-European current … imbalances since the euro introduction and thereby the current European debt crisis. Based on this finding we argue that an …

policies. Starting from the view that the crises in the euro zone were basically triggered by financial markets and reinforced …

side or a state behind it, just as the euro, Europe's common currency that the ECB is tasked with guarding, is a … 'denationalised' currency. The euro area is a rare exception to the global 'one state, one currency' rule. But the ECB is not the only … central bank in the euro area. Rather, the ECB is designed as the headquarters (or perhaps 'cockpit') of the Eurosystem, the …