The current account has always been a neglected variable in the management of the Euro area and in the assessment of … deficits. It then examines some peculiar features of the growth experience under monetary union in four Euro area countries … discipline. The common monetary policy moreover did nothing to prevent an extraordinary growth of credit that fed the imbalances …

economic booms in some peripheral Euro-zone countries financed by large capital inflows; the credit and asset price booms and … then the busts including Sudden Stops in capital flows; the strong interaction between sovereign debt and domestic banking … Latin American audiences. For those Euro-zone countries that built up large Euro-denominated external liabilities, Latin …

elsewhere. It argues instead that Europe had not only contributed handsomely to the buildup of global imbalances since the 1990s … homemade intra-Euroland and intra-EU imbalances, the simultaneous implosion of which has further aggravated Europe … inherited from Germany's mercantilist past and Bundesbank mythology. Steps toward a fiscal union to back the euro are also …

aggregate debt loads are rendering monetary- and fiscal policy-impaired governments and segments of society insolvent and …

warranted. -- Economic and Monetary Union ; euro ; European Central Bank; global imbalances ; global crisis ; intra … elsewhere. It argues instead that Europe had not only contributed handsomely to the buildup of global imbalances since the 1990s … homemade intra-Euroland and intra-EU imbalances, the simultaneous implosion of which has further aggravated Europe …

The euro crisis remains unresolved even as financial markets may seem calm for now. The current euro regime is … the euro are assessed and found lacking. A "Euro Treasury" scheme operating on a strict rule and specifically designed not … to be a transfer union is proposed here as a condition sine qua non for healing the euro's potentially fatal birth …

The euro crisis remains unresolved even as financial markets may seem calm for now. The current euro regime is … the euro are assessed and found lacking. A “Euro Treasury” scheme operating on a strict rule and specifically designed not … to be a transfer union is proposed here as a condition sine qua non for healing the euro's potentially fatal birth …

aggregate debt loads are rendering monetary- and fiscal policy-impaired governments and segments of society insolvent and …

elsewhere. It argues instead that Europe had not only contributed handsomely to the buildup of global imbalances since the 1990s … homemade intra-Euroland and intra-EU imbalances, the simultaneous implosion of which has further aggravated Europe … inherited from Germany's mercantilist past and Bundesbank mythology. Steps toward a fiscal union to back the euro are also …

elsewhere. It argues instead that Europe had not only contributed handsomely to the buildup of global imbalances since the 1990s … homemade intra-Euroland and intra-EU imbalances, the simultaneous implosion of which has further aggravated Europe … inherited from Germany's mercantilist past and Bundesbank mythology. Steps toward a fiscal union to back the euro are also …