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The euro area crisis is the main external factor threatening the Swiss economy. In 2010 and 2011, the Swiss franc was … rapidly appreciating against the euro, causing a drop in exports, losses for the tourism business and a rise in unemployment …. This paper gives an overview of developments in the euro area and explains the reasons for the strength of the franc, the …
Persistent link: https://www.econbiz.de/10009682346
A monetary union among autonomous countries cannot simultaneously maintain an independent monetary policy, national fiscal sovereignty and a no-bailout clause. These three features make up an impossible trinity, and attempts to preserve all three concurrently will ultimately end in failure. In...
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Policymakers in the EU member states are currently shaping rescue packages to prevent the financial crisis hitting their economies with unmitigated force. Each government is responding to the emerging problems with a country-specific set of measures. Given the global nature of the crisis, would...
Persistent link: https://www.econbiz.de/10009626666
There is a general consensus that member state interaction within the EU system will lead to convergence and an overall improvement of domestic policies and administrative systems. This article poses that non-convergence is also possible and develops a model of Europeanisation that explains both...
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euro area countries, the focus has now shifted to the destabilising effects threatening the entire euro zone as a …
Persistent link: https://www.econbiz.de/10009659544