Munich Personal RePEc Archive

The crisis of the EMU

Schmid, Peter Alfons (2012): The crisis of the EMU.

[img]
Preview
PDF
MPRA_paper_40390.pdf

Download (258kB) | Preview

Abstract

The Euro Zone (EZ)’s economies are under great stress since last decade’s financial crisis. Diverging interest rates, high debt burdens and sluggish growth in several member countries led to various rescue activities. Nevertheless, financial markets have still not calmed and the break-up of the EZ is discussed openly. Contrary to the popular belief I show that the Euro itself has been a success story so far but the EZ suffers under a debt crisis and huge economic imbalances. An overhaul of the EZ’s institutional framework, however, is necessary.

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.