This book critically analyses the crisis of the euro currency from 2008 to the present. It argues that an understanding … of this crisis requires an understanding of financial and economic crises in individual countries participating in the … euro. It goes on to describe and explain the crises in four countries--Greece, Ireland, Spain and Italy--showing how they …

pragmatic question in this context is: Did delegating monetary policy to the ECB increase stress in the individual euro area … countries? An SVAR analysis reveals that monetary stress has declined more in the euro area than in the euro areas’ doppelganger … euro becoming a dominant currency. …

Fund (IMF), was supposed to support the member states of the euro area which had been hit hard by a sovereign debt crisis …, the danger of a renewed crisis in the euro area was growing. The European Stability Mechanism (ESM) together with the …. For that purpose, economic adjustment programs were drafted and monitored in order to prevent the break-up of the euro …