Grauwe, 2006). This optimism is, however, not warranted for the euro. The euro has now been in a crisis for more than three … years and a self-correcting mechanism leading out of the crisis is not in sight. The reason is that the euro union does not … economic union. Their governments are financially independent. They "go Dutch". A currency union, such as the euro union, is …

The euro area will not have a centralised budget and smoothing of country-specific asymmetric shocks via private …

is described using a stochastic regime-switching model; second, the euro area governments’ responses to uncertain … macroeconomic policies in Greece are considered. The model's mechanism and assumptions allow either for a Grexit from the euro area … understand key drivers of the long-winded negotiations between the Syiza government and the euro area governments. …

that the euro triggered product but neither labour nor financial market reforms. Differently from previous studies, we find … that: (a) the Single Market has similar effects to the euro, and (b) sectoral heterogeneity appears less important in …

this "political guide for economists" we look at the creation of the euro within the bigger picture of European integration … reaction towards an "ever-closer union". The euro with its current problems is a child of that strategy and its limits. …

euro as their currency and recent research has shown that countries currently pursuing this goal indeed fulfill the …