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and has not led to an increased exposure of the EU to asymmetric shocks. However, the book argues that further … improvements in the functioning of European product markets are needed in order to improve the EU's growth performance over the …
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The authors offer a sustained argument that the single currency as currently implemented does not promise to deliver prolonged growth. They contend that the economic impact of the euro, and its accompanying institutions, is likely to be destabilising and deflationary; that the political impact...
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