Indice del volume

2018, Volume 71 - Issue 3

ISSN: 2499-8265
Citationi RSS feed: At RePEc
Data di pubblicazione: 03 agosto 2018

THE FUTURE OF EUROPE: ECONOMIC AND SOCIAL PROSPECTS

Amedeo Amato

Leggi l'articolo

IL FUTURO DELL'EUROPA: PROSPETTIVE ECONOMICHE E SOCIALI - WELCOME ADDRESS

Paolo Odone

Leggi l'articolo

EUROPE'S FUTURE: ECONOMIC AND SOCIAL PROSPECTS

Angelo Bagnasco

Leggi l'articolo

EUROPE'S FUTURE AT THE CROSSROADS: THE CHALLENGE OF IMMIGRATION

Stefano Stefanini

Leggi l'articolo

WHY A EUROZONE COLLAPSE SHOULD NOT BE A SURPRISE: THE ROLE OF GERMANY AND GREECE

George Zestos, Morgan H. Simmons

Leggi l'articolo

FINANCIAL CRISIS, BANKING SECTOR PERFORMANCE AND ECONOMIC GROWTH IN THE EUROPEAN UNION

Cândida Ferreira

Leggi l'articolo

FIXING THE EUROZONE SETUP: ON VIABLE FORMS OF FISCAL UNION

Luca Gandullia, Franco Praussello

Leggi l'articolo

AMONG THE CENTRAL AND EASTERN EUROPEAN COUNTRIES OF THE EUROPEAN UNION, WHO GAINED AND WHO LOST?

Miroslav N. Jovanovic, Jelena Damnjanovic, Jovan Njegic

Leggi l'articolo

THE EXCHANGE RATE REGIME SWITCH AND CURRENT ACCOUNT IN GREECE, 1976-2014

Alexi Thompson, Henry Thompson

Leggi l'articolo

Camera di Commercio di Genova
Economia Internazionale / International Economics

< Torna indietro

Autore corrispondente

George ZESTOS, Department of Economics, Christopher Newport University, Newport News, USA

Co-Autori

Morgan H. SIMMONS, Department of Economics, Christopher Newport University, Newport News, USA

Why a Eurozone Collapse should not be a Surprise: The Role of Germany and Greece

Pagine

227-256

Riassunto

Perché il collasso dell’Eurozona non sarebbe una sorpresa: il ruolo della Germania e della Grecia

La crisi dei mutui bancari negli USA del 2007-2009 si è propagata in Europa sfociando nella crisi dell’Euro e nella crisi del debito sovrano europeo. L’uscita dalla crisi è tutt’altro che vicina e un collasso dell’Eurozona e persino dell’Unione Europea è ancora possibile. L’austerità è ampiamente accettata dato il prolungamento della crisi finanziaria dell’Eurozona. Tale austerità è stata inizialmente imposta ai paesi dell’Eurozona dalla Germania e dai suoi alleati del nord Europa. Oltre alla crisi finanziaria però è emersa una crisi geopolitica. Vi è molto dissenso nell’Unione Europea su come sono state affrontate entrambe le crisi, dissenso che ha causato la nascita dell’euroscetticismo, dei nazionalismi e dei partiti politici populisti anti-europei. Questo studio analizza i diversi scenari che potrebbero verificarsi con la fine dell’unione Monetaria Europea o con una possibile uscita dalla crisi dell’Euro.
 

Classificazione JEL

F15, F34, F36, F45

Parole chiave

Eurocrisis, European Sovereign Debt Crisis, Monetary Policy, Fiscal Policy, Austerity, Eurozone Breakup

Indice dell'articolo

  1. Introduction
  2. Brief history of the European sovereign debt crisis (Eurocrisis)
  3. The 1992-1993 ERM-EMS crisis
  4. Germany as the cause of the Eurocrisis
  5. The European Central Bank (ECB) versus the Bundesbank
  6. An EU official raises criticism
  7. IMF participation
  8. European national elections
  9. Celebrating the 60th anniversary of the Treaty of Rome
  10. The last scenario for Greece
  11. Recent political developments in Germany
  12. Concluding comments

Bibliografia

BBC (2017), “EU Leaders Embrace Multi-speed Europe amid Tensions”, British Broadcasting Corporation, March 7.
Bibow, J. (2017), “How Germany’s anti-Keynesianism has brought Europe to its knees”, International Review of Applied Economics, 1-20.
Bickes, H., T. Otten and L.C. Weymann (2014), “The Financial Crisis in the German and English Press: Metaphorical Structures in the Media Coverage on Greece, Spain, and Italy”, Discourse & Society, 25(4), 424-445.
Brunsden, J. (2018), “Dijsselbloem and the Lessons of the Eurozone Debt Crisis”, Financial Times, January 11.
Buck, T. and G. Chazan (2017), “Martin Schulz calls for ‘United States of Europe’”, Financial Times, December 7.
Cabral, R. (2013), “The Euro Crisis and Portugal’s Dilemma”, Intereconomics: Review of European Economic Policy, 48(1), 27-32.
Chazan, G. (2018), “Merkel’s Conservatives Pay Heavy Price for Grand Coalition with SPD”, Financial Times, February 8.
De Grauwe, P. (2000), Economics of Monetary Union, Oxford Uniersity Press: New York.
De Grauwe, P. and Y. Ji (2013), “From Panic-Driven Austerity to Symmetric Macroeconomic Policies in the Eurozone”, Journal of Common Market Studies, 51(S1), 31-41.
Evans, J. and E. Gibb (2009), “Moving from Precarious Employment to Decent Work”, International Labor Organization, Global Union Research Network Discussion Paper No. 13.
Koutsokosta, E. (2017), “Grexit is not an Option, says EU’s Moscovici”, Euronews, February 13.
Janssen, R. (2010), “Greece and the IMF: Who Exactly is Being Saved?”, Center of Economic Policy Research Discussion Paper, July 20.
Moscovici, P. (2016), “Greece cannot be Condemned to Austerity Forever”, Financial Times, December 15.
Patterson, W.E. (2011), “The Reluctant Hegemon? Germany Moves Centre Stage in the European Union”, Journal of Common Market Studies, 49(1), 57-75.
Reuters (2018), “Greek Bond Yields Dive after Moody's Upgrade”, Ekhatimerini, January 22, available at:
<http://www.ekathimerini.com/226063/article/ekathimerini/business/greek-bond-yields-dive-after-moodys-upgrade>
Rocholl, J. and A. Stahmer (2016), “Where did the Greek Bailout Money Go”, European School of Management and Technology White Paper No. 16-02.
Speciale, A. and M. Deen (2017), “Weidmann Says ECB Should Have Set Clear End Date for Bond Buying”, Bloomberg, October 27.
Torry, H. and M. Feher (2012), “Nowotny Links Austerity with Rise of Nazism”, Wall Street Journal, June 19.
Trading Economics (2017), Country List Government Debt-to-GDP, Trading Economics: New York, NY, <http://www.tradingeconomics.com/country-list/government-debt-to-gdp>.
Wolf, M. (2016), “Germany is the Eurozone’s Biggest Problem”, Financial Times, May 10.
World Bank (2017), World Development Indicators, World Bank: Washington, DC. <http://data.worldbank.org/indicator/GC.DOD.TOTL.GD.ZS>.
Zafiropoulos, P. (2017), “Foreclosed Greek Homes Go under the Online Hammer”, Deutsche Welle, February 2.
Zestos, G. (2006), European Monetary Integration: The Euro, Thompson South-Western: Mason, OH.
Zestos, G. (2016), The Global Financial Crisis: From US Subprime Mortgages to European Sovereign Debt, Routledge: New York.
Zestos, G., T. Taylor and R. Patnode (2016), “Causality within the Euro Area? : Trade Surplus in the North versus Public Debt in the South”, Journal of Economic Integration, 31(4), 898-931.