This paper overviews the early history of the euro and argues that the euro was sub-optimally designed, without … monetary sovereignty of Eurozone (EZ) Member States, in order to comply with political goals set by wealthier Member States …. Given this constraint, the euro architects designed a single currency in which its irreversibility is achieved through the …

could be still relevant for Europe today; (b) discuss recent proposals to establish a restructuring scheme in the euro area …

. Greece joined the EU on January 1, 2001, adopting the Euro at a conversion rate of 340.75 Drachmas per Euro.From 1995 … disadvantaged by EU membership, by switching to the Euro, and by subsequent austerity measures; or (2) Greece accumulated excessive … rate that would have prevailed if Greece had not adopted the Euro. Under a Drachma regime, I assume that Greek policymakers …

haircut increases are simulated. Insufficient Eurosystem funding could lead Greece to abandon the euro zone …

documentation of each individual Euro area sovereign bond contract. To illustrate, prior to January 1, 2013, all of the terms of a …

Eurozone and even speculation that the euro might break up. Against this background this paper sets out to re-examine the Hard …In 2009 the euro entered a crisis from which it has yet to emerge. It has led to increased social tensions across the … 1992 and led to the euro. Unlike previous scholarship on the Hard ECU this paper is now in a position to compare the scheme …

This paper reviews the performance of the euro area since the euro's launch 20 years ago. It argues that the euro … crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances … unemployment continue to plague euro crisis countries. Its huge current account surplus highlights that the euro currency union …

This paper reviews the performance of the euro area since the euro's launch 20 years ago. It argues that the euro … crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances … unemployment continue to plague euro crisis countries. Its huge current account surplus highlights that the euro currency union …

The structure of the international banking market has evolved in important ways since the introduction of the euro in … 1999. In comparison to legacy currencies, the use of the euro in cross-border banking transactions grew on aggregate, and … the bilateral linkages within the euro area became more dispersed in the years after its introduction. However, growth in …