covered the deficits by creating and lending out additional central bank money that flowed to the euro core countries, Germany …

imbalances can be achieved if market forces are allowed to redirect capital flows to the north instead of being artificially …

imports of goods. Using data from 2000 to 2009 for 11 euro area countries we utilize a pricing-to-market specification to …

imbalances since the euro introduction and thereby the current European debt crisis. Based on this finding we argue that an …In the current debate on the reasons and implications of the Greek and Irish euro crisis, the intra-European current … account imbalances have gained rising attention. Whereas Greece and Ireland struggle for austerity in private and public …

federal government, German government debt might increase. …

The European sovereign debt crisis revived the discussion concerning the pros and cons of exchange rate adjustment in … the face of asymmetric shocks. Exit from the euro area is to regain rapidly international competitiveness. Exchange rate …