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A New Approach to Governance and Integration in Emu for an Optimal Use of Economic Policy Framework - Priority to Financial Union
Papaspyrou, Theodoros - 2022
This paper proposes a new approach to EMU governance and integration consisting of the following elements: (i) an optimal use of the existing EU institutional framework for economic, fiscal and financial policies is necessary and possible at each level of EMU integration that is politically...
Persistent link: https://www.econbiz.de/10014078175
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Emu 2.0 Drawing Lessons from the Crisis - a New Framework for Stability and Growth
Papaspyrou, Theodoros - 2022
This paper, drawing on the lessons from the sovereign debt crisis, tries to give answers to some key questions: Was the strategy and specific actions to cope with the crisis appropriate? Was the priority given to preserving financial stability justified? Are stability and growth objectives...
Persistent link: https://www.econbiz.de/10014078959
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EMU Strategies : Lessons from Past Experience in View of EU Enlargement
Papaspyrou, Theodoros - 2022
This paper, after reviewing briefly the early steps of European monetary integration and key elements of the EMU project as reflected in the Treaty of Maastricht, analyses the monetary integration strategy and convergence experience of member states, in particular that of Greece, in the 1990s...
Persistent link: https://www.econbiz.de/10014080717
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The fragility of two monetary regimes : the European Monetary System and the Eurozone
De Grauwe, Paul; Ji, Yuemei - 2013
We analyze the similarities and the differences in the fragility of the European Monetary System (EMS) and the Eurozone …. We test the hypothesis that in the EMS the fragility arose from the absence of a credible lender of last resort in the … markets that caused the fragility. We conclude that in the EMS the national central banks were weak and fragile, and the …
Persistent link: https://www.econbiz.de/10011590398
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The eurozone in the current crisis
Wyplosz, Charles - 2010
This paper contrasts the United States (US) and European situations during the crisis and examines how much of the crisis has been imported by Europe from the US. The paper argues that Europe never had a chance to avoid contagion from the US. It also documents the relatively limited reaction of...
Persistent link: https://www.econbiz.de/10003983135
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The Eurozone in the Current Crisis
Wyplosz, Charles - 2010
This paper contrasts the United States and European situations during the crisis and examines how much of the crisis has been imported by Europe from the US. The paper argues that Europe never had a chance to avoid contagion from the US. It also documents the relatively limited reaction of both...
Persistent link: https://www.econbiz.de/10013144792
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Is the ‘Euro Bond’ the Answer to the Euro Sovereign Debt Crisis? What Outcome Can Investors Expect Out of Europe?
Matziorinis, Kenneth N. - 2012
This paper analyzes the causes of the sovereign debt crisis in the eurozone and examines the policy alternatives confronting euro area governments. It suggests that pooling fiscal risks, creating an EU Treasury and issuing jointly-backed euro bonds is an optimal solution and the inevitable...
Persistent link: https://www.econbiz.de/10013111171
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Eurozone Creation and Possible Exits : Political, Institutional, Monetary and Economic Issues - An Analysis of the Key Stress Points of the Single Currency and Their Interactions
Masera, Rainer - 2019
This paper argues that EMU has been and continues to be a politically driven process. In this perspective, it examines the issues and the implications of potential Euroexit and Euro break up: it underlines that these processes would have a prominent political dimension, as was the case for the...
Persistent link: https://www.econbiz.de/10012897801
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Exchange rate arrangements in the run-up to the EMU : some experience in currency board countries
Kielyte, Julda - 2002
Since the beginning of the transition process from centrally planed to market economies, East European countries have experienced relatively high inflation and a market depreciation of their currency. Their monetary systems have gone through dramatic changes in the recent ten years, making the...
Persistent link: https://www.econbiz.de/10011511064