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Yet another rescue plan for the European Monetary Union (EMU) is making its way through central Europe, but no one is … exposure to Europe and you are up to a potential $3 trillion hit to US finance. Another global financial crisis is looking … Europe. It may be too late already …
Persistent link: https://www.econbiz.de/10013119424
of such turmoil, these last years the euro-zone capital markets and financial institutions seem to absorb a continued … credit cycle phenomenon and are seriously hit by aggravating tensions. It is the first financial crisis the Eurozone … recent developments in the Eurozone, mainly the Greek and Irish financial crises and the threats the Eurozone risks. Finally …
Persistent link: https://www.econbiz.de/10013121540
international financial crisis had its origins outside Europe, the Monetary Union has greatly increased the vulnerability of some …
Persistent link: https://www.econbiz.de/10013124633
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,...
Persistent link: https://www.econbiz.de/10013106538
Where a country allows the free movement of capital and follows a free floating exchange rate policy, the monetary trilemma would suggest the existence of monetary autonomy, which is prejudiced when external shocks cause a significant decrease (divergence) or increase (contagion) in market...
Persistent link: https://www.econbiz.de/10013107395
How much did fiscal policy contribute to euro area real GDP growth during the Great Recession? We estimate that discretionary fiscal measures have increased annualized quarterly real GDP growth during the crisis by up to 1.6 percentage points. We obtain our result by using an extended version of...
Persistent link: https://www.econbiz.de/10013108718
The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the … well as gradual real income losses, the economic policy implication for Japan and Europe is the timely exit from the …
Persistent link: https://www.econbiz.de/10013081055
causes of the crisis in Europe. The first type, a morality tale, attributes the crisis to profligate southern states that …
Persistent link: https://www.econbiz.de/10013086279
In this paper the euro crisis is interpreted as the latest episode in the crisis of finance-dominated capitalism. For 11 initial Euro area countries, the major features of finance-dominated capitalism are analyzed; specifically, the increasing inequality of income distribution and the rising...
Persistent link: https://www.econbiz.de/10013089794
period of peace and prosperity that the citizens of Europe have come to know in generations. This needs to be preserved, even …
Persistent link: https://www.econbiz.de/10013072425