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When entering a monetary union, member countries change the nature of their sovereign debt in a fundamental way, i.e. they cease to have control over the currency in which their debt is issued. As a result, financial markets can force these countries' sovereigns into default. In this sense, the...
Persistent link: https://www.econbiz.de/10013121996
agents ‘over - prefer' to transact with domestic agents rather than agents from other EU countries. Such an exclusive … the possible existence of home - bias effects in the US market and the EU internal market, which are the two most … barrier to trade. This shows a tendency to ‘over-trade' within borders both in the US and the EU. Taking the finding for the …
Persistent link: https://www.econbiz.de/10013122002
This paper describes four key drivers behind the adjustment difficulties in the periphery of the eurozone: • The adjustment will be particularly difficult for Greece and Portugal, as two relatively closed economies with low savings rates. Both of these countries combine high external debt...
Persistent link: https://www.econbiz.de/10013122004
The first 16 months of the EU's common commercial policy (CCP) in the post - Lisbon period provide indicative insights … policy. Against this backdrop, the paper gives an overview of the changing dynamics of EU trade and investment policy in a … public political preferences and perceptions, on the one hand, and actual EU trade policies on the other, and to place EU …
Persistent link: https://www.econbiz.de/10013092616
While energy security has gradually been incorporated into the EU's foreign policy calculus, the declared approach of … extending a nexus of 'market-governance' energy norms has been realized only to a limited extent. The EU has eschewed a … and geopolitical approaches. The EU needs more effectively to address the way that governance structures in producer …
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