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This paper argues that the loose monetary policy of two of the world’s most important financial institutions-the US Federal Reserve Board and the European Central Bank-were ultimately responsible for the outburst of global financial crisis of 2008 - 09. Unusually low interest rates in 2001 -...
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quasi-fiscal rescue operations can undermine this consensus and lead to a disintegration of the Eurozone. There are also …
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quasi-fiscal rescue operations can undermine this consensus and lead to a disintegration of the Eurozone. There are also … ; Eurozone ; Maastricht Treaty ; European Central Bank ; Euro ; Fiscal union …
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German policy during the Eurozone crisis supposedly follows an ordoliberal tradition. In this paper, we discuss to what … economic constitution for Europe in which several pillars supposedly aim at ensuring sound money in the Eurozone. The policies … the German government pushed during the Eurozone crisis have been informed by the ordoliberal tradition. In particular …
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