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. …

It is often disregarded that the euro is first of all a public good based on common institutions such the European …

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

We present the first evidence on public attitudes towards two prominent euro area reform proposals (European … there is a striking contrast between the low level of support for transfers to other euro area member states and a broad …

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 …