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Persistent link: https://www.econbiz.de/10009781098
This paper reviews the performance of the euro area since the euro's launch 20 years ago. It argues that the euro crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances had remained unchecked prior to the crisis. As those...
Persistent link: https://www.econbiz.de/10011894027
Union (EMU). Whereas for a long time, preventing a break-up of EMU was indisputable, in the meantime, voices were being … from the currency union (or even a complete break-up of EMU) is associated with economic disadvantages. Particularly, it is … argued that EMU is of greatest utility for Germany due to the countries' longstanding wage moderation and strong export …
Persistent link: https://www.econbiz.de/10009372957
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This paper investigates the causes behind the euro debt crisis, particularly Germany's role in it. It is argued that the crisis is not primarily a "sovereign debt crisis" but rather a (twin) banking and balance of payments crisis. Intra-area competitiveness and current account imbalances, and...
Persistent link: https://www.econbiz.de/10009533362
Im Sommer 2011 haben sich die Aussichten für die Weltwirtschaft deutlich verschlechtert. Insbesondere droht in Europa die Staatsschuldenkrise sich zu einer Bankenkrise auszuweiten. Dies belastet zunehmend auch die deutsche Konjunktur. Die stark erhöhte Unsicherheit wird die nländische...
Persistent link: https://www.econbiz.de/10010512659
source of the Eurozone crisis -- The stock-flow quandry of the EMU -- European and global inability to deal with external … imbalances -- The EMU heads to disaster -- What could and should be done by the Left? -- Managing confrontational exit from the … EMU -- Dismantling the EMU -- The Greek catastrophe -- An alternative path for Greece -- A ray of hope for Greece and …
Persistent link: https://www.econbiz.de/10011333732
Alle drei großen Ratingagenturen Standard & Poor’s, Moody’s und Fitch haben Griechenland, Irland, Portugal und Spanien während der europäischen Finanzmarkt- und Staatsschuldenkrise signifikant benachteiligt. Dies lässt sich nur zu einem geringen Teil auf objektive Fundamentaldaten...
Persistent link: https://www.econbiz.de/10011347237
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Persistent link: https://www.econbiz.de/10009773972