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The Broad Economic Policy Guidelines contain the answers of the European Commission and the governments of the EU-member countries to the European growth and employment problems. These guidelines have been the major EU-economic policy concept for around ten years now. They can be seen as a...
Persistent link: https://www.econbiz.de/10003744521
In order to explain slow growth and high unemployment in the Euro area, in particular if compared to the USA, we follow a macroeconomic policy view focussing on the more restrictive stance of monetary, fiscal and wage policies in the Euro area. In the present paper we focus on the particular...
Persistent link: https://www.econbiz.de/10003744533
Since the start of the European Monetary Union fiscal policy in the Euro area has been dominated by the Stability and Growth Pact (SGP). Quite obviously the SGP has been unsuccessful in fulfilling its goals, fiscal sustainability and supporting economic growth. More and more countries have...
Persistent link: https://www.econbiz.de/10003744534
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In this paper the euro crisis is interpreted as the latest episode in the crisis of finance-dominated capitalism. For 11 initial Euro area countries, the major features of finance-dominated capitalism are analyzed; specifically, the increasing inequality of income distribution and the rising...
Persistent link: https://www.econbiz.de/10013089794
In this paper we outline alternative policy recommendations addressing the problems of differential inflation, divergence in competitiveness, and associated current account imbalances within the euro area. The major purpose of these alternative policy proposals is to generate sustainably high...
Persistent link: https://www.econbiz.de/10013045723
In this paper the euro crisis is interpreted as the latest episode in the crisis of finance-dominated capitalism. For 11 initial Euro area countries, the major features of finance-dominated capitalism are analyzed; specifically, the increasing inequality of income distribution and the rising...
Persistent link: https://www.econbiz.de/10009631541
The current Covid-19 Crisis 2020 has hit the Eurozone in a highly fragile situation, with a weak and asymmetric … recovery from the Great Financial Crisis, the Great Recession and the following Eurozone Crisis. These crises have also … revealed the weaknesses of the macroeconomic policy institutions and strategies of the Eurozone based on New Consensus …
Persistent link: https://www.econbiz.de/10012239654
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