This book examines the Eurozone crisis in light of theoretical and empirical evidence. The first half explores specific … half presents results of counterfactual simulations using the Oxford Econometric model and estimates what the Eurozone has …

responded to the financial crisis. Contrary to popular perception, he finds that the monetary autonomy of small non-eurozone … states (Iceland, Hungary) helped prioritise the needs of domestic constituents over those of international markets. Eurozone … economic shocks, Eurobondage documents the major sacrifices that eurozone states have made in joining a suboptimum currency …