In this paper, sound public finances under the euro means sustainability in the long term instead of short- and medium …-term fiscal discipline. The challenges to sustainability are identified for the four largest euro area member states, and several … resort for a euro area government under liquidity shortage to prevent it from developing into a general financial crisis …

that the ECB may well stand out positively when compared to other important euro-area or national authorities involved in … managing the euro crisis, but that in general the bank did "too little, too late" to prevent the euro area from slipping into … excessively optimistic, and that proposals featuring the central bank as the euro’s savior through even more radical employment of …

, this paper analyzes how the resulting euro contradiction conditioned the ongoing euro crisis as well as current strategies … to resolve it. While Germany generally prevailed in hammering out the design of the euro policy regime, the German … misunderstanding has made Germany the main culprit in the euro crisis, but it has yet to face the full consequences of its actions …

Monetary Union (EMU), focusing on the German intellectual and historical traditions behind the euro policy regime and its … the euro's guardian of stability, and ultimately the euro itself. Essentially, the national success of the Bundesbank … general perception in Germany today is that the euro crisis has confirmed the soundness of the key "stability …

The euro crisis remains unresolved even as financial markets may seem calm for now. The current euro regime is … the euro are assessed and found lacking. A "Euro Treasury" scheme operating on a strict rule and specifically designed not … to be a transfer union is proposed here as a condition sine qua non for healing the euro's potentially fatal birth …

institutional deficiencies share responsibility for the euro's failure, the bank has generally done "too little, too late" with … regard to managing the euro crisis, preventing protracted stagnation, and containing deflation threats. The bank remains … attached to the euro area’s official competitive wage-repression strategy, which is in conflict with the ECB's price stability …

This paper studies the reaction of the mean and volatility of the euro-dollar exchange rate to statements of ECB … officials during the first years of EMU. We focus on statements on monetary policy and the (potential) strength of the euro. We …. In some cases there are effects of statements on the level of the euro-dollar rate. Efforts to talk up the euro have not …

euro area, including the most recent developments during the coronavirus crisis. Several financial transmission channels … of euro area central banks are identified. It is found that differing fiscal policy stances which have interacted … the euro area. Since the European financial and debt crisis, public financing mechanisms and the unconventional monetary …

balances, the common monetary policy may not be optimal for all of them. Euro area imbalances for potential output and for …