warranted. -- Economic and Monetary Union ; euro ; European Central Bank; global imbalances ; global crisis ; intra … elsewhere. It argues instead that Europe had not only contributed handsomely to the buildup of global imbalances since the 1990s … homemade intra-Euroland and intra-EU imbalances, the simultaneous implosion of which has further aggravated Europe …

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 …

Imbalances ; Sectoral Balances Approach ; Modern Money Theory ; Debt Cancellation ; Global Financial Crisis ; Euro Crisis ; EMU … complex financial markets in synthetic collateralized debt obligations - CDOs. Guided by invisible hands, supplies balance … less sure. The market might not work. It needs a bit of coaxing. Imbalances can persist. Market forces can be rather …

crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances …This paper reviews the performance of the euro area since the euro's launch 20 years ago. It argues that the euro … had remained unchecked prior to the crisis. As those imbalances eventually imploded, member states were found to be …

vehicle for the central funding of public investment through the issuance of common Euro Treasury debt securities. … 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 …

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 …

Conventional wisdom suggests that the European debt crisis, which has thus far led to severe adjustment programs … common currency - the euro - was at best minimal.This paper aims to show that, contrary to conventional wisdom, the crisis in … Europe is the result of an imbalance between core and noncore countries that is inherent in the euro economic model …

This paper investigates the causes behind the euro debt crisis, particularly Germany's role in it. It is argued that …-area competitiveness and current account imbalances, and the corresponding debt flows that such imbalances give rise to, are at the heart … ; Sovereign Debt Crisis ; Competitiveness Imbalances ; Fiscal Transfers ; Bailouts ; Austerity …

depressed euro that boosted German extra-area exports. But the crisis that started in Euroland's so-called periphery has … meanwhile reached the core. With pro-euro sentiments dwindling fast across the European Union (EU), the future of the euro … turn out to be a double-edged sword. In case of a euro breakup, swift appreciation of the new deutschmark would abruptly …

, 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 …