2018, Volume 71 - Issue 3
RSS feed citation: At RePEc
Publication date: 03 August 2018
IL FUTURO DELL'EUROPA: PROSPETTIVE ECONOMICHE E SOCIALI - WELCOME ADDRESSRead the article
WHY A EUROZONE COLLAPSE SHOULD NOT BE A SURPRISE: THE ROLE OF GERMANY AND GREECERead the article
FINANCIAL CRISIS, BANKING SECTOR PERFORMANCE AND ECONOMIC GROWTH IN THE EUROPEAN UNIONRead the article
FIXING THE EUROZONE SETUP: ON VIABLE FORMS OF FISCAL UNIONRead the article
AMONG THE CENTRAL AND EASTERN EUROPEAN COUNTRIES OF THE EUROPEAN UNION, WHO GAINED AND WHO LOST?Read the article
George ZESTOS, Department of Economics, Christopher Newport University, Newport News, USA
Morgan H. SIMMONS, Department of Economics, Christopher Newport University, Newport News, USA
The US subprime mortgage crisis of 2007-2009 spread to Europe, where it morphed into the Eurocrisis, or the European Sovereign Debt Crisis. Total recovery from the Eurocrisis is still not imminent, and a collapse of the Eurozone and even the EU is possible. Austerity is widely accepted as a major reason for prolonging the financial crisis in the Eurozone. Such austerity was primarily imposed on the Eurozone members by Germany and its northern allies. In addition to the financial crisis, a geopolitical crisis has also emerged. Much dissent towards the handling of both of these crises exists in the EU, leading to a rise of Euroscepticism, nationalism, and anti-EU populist political parties. This paper explores how different scenarios could evolve into the breakup of the EMU or a possible recovery from the Eurocrisis.
F15, F34, F36, F45
Eurocrisis, European Sovereign Debt Crisis, Monetary Policy, Fiscal Policy, Austerity, Eurozone Breakup
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