This dissertation deals with current account deficits and public debt in the Euro area. The thesis is in three parts. In part one, I assess movements in relative prices which are necessary to achieve an output-neutral reversal of the current account deficits that arose in Greece, Italy, Portugal...

This dissertation is a collection of three essays dealing with selected problems of the Euro Area during its most recent crisis. It applies empirical, theoretical, and institutional analyses to gain new insights into many of its financial aspects. The first essay offers an alternative...