In this paper the euro crisis is viewed as the most recent episode of the crisis of financedominated capitalism … imbalances of current accounts, are analysed for a set of major Euro area countries. Against this background the euro crisis is … and will lead to deflationary stagnation and an increasing risk of disintegration of the Euro area. For this reason, an …

The financial and economic crisis in the Euro area has revealed a number of important flaws in the economic policy … euro, are not sustainable; and this is more serious in a period of crisis in particular. On the other hand, it has become … clear that the Euro area suffers from a serious lack of institutions and policy concepts, which will not allow coping with …