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Regional integration and the euro crisis : problems and solutions
Pessoa, Argentino - 2013
Along time the European Union (EU) has been pointed as the most succeeded example of regional integration. Now, this example has been cruelly shaken by the EZ (Euro Zone) crisis, originating increasing doubts about the integration process. It is evident that the proposed solutions for attacking...
Persistent link: https://www.econbiz.de/10011515832
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The Implications of TARGET2 in the European Balance of Payments Crisis and Beyond
Cesaratto, Sergio - 2015
The paper provides an account of the meaning and implications of TARGET2 in the eurozone (EZ) balance of payments crisis. In this context, it discusses Hans-Werner Sinn's thesis about a stealth bail-out of the EZ periphery by the ECB from a heterodox perspective. Financial liberalisation, a...
Persistent link: https://www.econbiz.de/10013017589
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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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Future of the Economic and Monetary Union
Gortsos, Christos V. - 2022
recent major crises, of the legal framework governing the European Economic and Monetary Union (EMU), as well as current … of the EMU.The following Section II (“The Impact of the Three Major Crises During the Period 2007-2021”) develops on how …
Persistent link: https://www.econbiz.de/10014077291
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Monetary policy after the crisis : a joint publication with the National Bank of Poland
Gnan, Ernest (ed.); Kokoszcynski, Ryszard (ed.);  … - Conference Monetary Policy after the Crisis <2011, Warschau>; … - 2011
On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which...
Persistent link: https://www.econbiz.de/10011710723
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TARGET2 imbalances and the ECB as lender of last resort
Purificato, Francesco; Astarita, Caterina - In: International Journal of Financial Studies : open … 3 (2015) 4, pp. 482-509
This paper analyses the issue of the dynamics of the TARGET2 system balances during the sovereign debt crisis, when some countries registered a decisive inflow of the central bank liquidity and others showed an outflow. The dynamics in the TARGET2 are here explained as being due to a fall in the...
Persistent link: https://www.econbiz.de/10011408880
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Macroeconomic imbalances and institutional reforms in the EMU
Ederer, Stefan - 2015
The paper summarises the channels and mechanisms which lead to the emergence of macroeconomic imbalances in the EMU … before, in and after the crisis of 2008/09. It focuses on the role of the specific institutional setting of the EMU in these …
Persistent link: https://www.econbiz.de/10011337035
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The Economic Rationale of an EMU Fiscal Capacity
2018
This paper explores the economic rationale of an EMU fiscal capacity. It explains that the EMU's architecture suffers … the external imbalances developed during the first decade of the EMU were driven by the large demand shock brought forward … capacity should have been designed and linked with the relative (intra-EMU) external positions of the participating countries …
Persistent link: https://www.econbiz.de/10012914443
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Social Mechanisms in the Establishment of the European Economic and Monetary Union
Cerami, Alfio - 2018
establishment of the European Economic and Monetary Union (EMU). Contrary to commonly accepted theories used to explain … institutional change, it argues that the establishment of the EMU has not simply been the product of historical paths, the rational …
Persistent link: https://www.econbiz.de/10012940700
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Fiscal and monetary policy determinants of the Eurozone crisis and its resolution
Dąbrowski, Marek - 2012
Unlike the crisis years of 2007-2009 (when the insolvency of large banks was a major problem), the current round of the global financial crisis has fiscal origins. Almost all developed countries suffer from an excessive public debt burden that has been built up over the last two decades or more....
Persistent link: https://www.econbiz.de/10009572988