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There are some striking similarities between the pre 1914 gold standard and EMU today. Both arrangements are based on fixed exchange rates, monetary and fiscal orthodoxy. Each regime gave easy access by financially underdeveloped peripheral countries to capital from the core countries. But the...
Persistent link: https://www.econbiz.de/10010786711
sovereign bailouts -- in the euro-area that would have reduced members’ external imbalances. This situation contrasts sharply …
Persistent link: https://www.econbiz.de/10014079607
Persistent link: https://www.econbiz.de/10010494056
<em>Un sistema imperfetto: il Gold Standard e i suoi critici (1870-1914)</em> - This paper examines the debate on the gold standard from 1870 to 1914. In this period the gold standard becomes the world’s monetary regime, but this political success is disputed by a considerable part of the coeval...
Persistent link: https://www.econbiz.de/10008504110
of the euro area. For this purpose, we differentiate between the departure of weak and strong countries, and examine the …
Persistent link: https://www.econbiz.de/10010255127
of the euro area. For this purpose, we differentiate between the departure of weak and strong countries, and examine the …
Persistent link: https://www.econbiz.de/10010369510
of the euro area. For this purpose, we differentiate between the departure of weak and strong countries, and examine the …
Persistent link: https://www.econbiz.de/10010421238
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the …
Persistent link: https://www.econbiz.de/10011308548
the Euro area monetary and fiscal systems by focusing markets and public attention on the core cause of the overall Euro … crisis, the insolvency of the Euro area member-states model of debt financing of public and private expenditure and … investment. Hence, any repair of the system will require addressing the twin malaises of the Euro area model of economic …
Persistent link: https://www.econbiz.de/10013122727
The European Union was created to promote economic, cultural, and regional prosperity. However, the Global Financial Crisis demonstrates that its economic institutions are flawed. While each sovereign state in the Eurozone forfeits the control of its money supply, the lack of a common fiscal...
Persistent link: https://www.econbiz.de/10013099006