global financial crisis has fiscal origins. Almost all developed countries suffer from an excessive public debt burden that … quasi-fiscal rescue operations can undermine this consensus and lead to a disintegration of the Eurozone. There are also …

maintaining financial stability in the euro area by providing vast liquidity support to commercial banks that are operating in … nationally segmented banking systems. As a side effect, the national central banks substitute money market operations for cross … centrifugal forces become that ultimately might break up the single currency. Instead of a fiscal union, a euro …

This study inspects if there is greater convergence with Germany amongst the Eurozone founding members and if their … significantly endogenous. At the same time, to assess the relative dominance of Germany, the features against Germany are compared … remarkable convergence with Germany and across the states but also relative convergence with US. On economic erformance, results …

As the recent financial crisis has revealed, the state is central to the stability of the money system, while the … chaotic privately-owned banks reap the benefits without shouldering the risks. This book argues that money is a public … resource that has been hijacked by capitalism. Mary Mellor explores the history of money and modern banking, showing how …

Hat die Einführung des Euro zu einer Verbesserung oder gar zu einer Verringerung des deutschen Wohlstands geführt … Euro zu einer Verringerung des deutschen Wohlstands und der langfristigen Wettbewerbsfähigkeit geführt hat, und führt dafür … des Euro führte zu einer langen Phase geringen Wachstums, hoher Arbeitslosigkeit und Lohnstagnation. Der Staat hat …

deficits and private foreign debt, currency mismatches, and high inflation, while public finances were in good shape. The … eminently. The euro has proven credible both in the countries that officially adopted it and in the countries that adopted it … facilitate the accession of willing EU members to the euro by relaxing the ERM II conditions. …

Money, which provides liquidity, is distinct from debt. The introduction of a bank that issues money in exchange for … debt and pays out its profit as dividend to shareholders modifies the model of overlapping generations. Monetary policy can …