The Eurozone's shelf life: when it expires?

Ljumović, Isidora and Pavlović, Dejana (2013) The Eurozone's shelf life: when it expires? In: Rethinking Europe after the Economic Crisis : lessons for the european core and periphery. Faculty of Economics, Niš, pp. 45-63. ISBN 978-86-6139-084-5

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Abstract

European monetary integration or the Eurozone is the greatest achievement in the
history of European integration. There were many crises in the EU, certain
problems and disagreements in the Eurozone, internal troubles caused by a lack of
respect for rules, but the true sustainability test came with the global credit crunch.
The EU’s first response to the crisis was mostly on a national level was not
coordinated at union scale and it came quite late. A series of rescue operations
started with Greece and continued with Spain, Portugal, Ireland, Italy and most
recently with Cyprus. European Monetary Union terms were defined as political
compromise, where economic theory that could provide long-term sustainability was
neglected. This crisis also showed that Eurozone has turned into two-tier community
with the core (first division) and the fringe countries (second division). The
Eurozone is considered to be a greatest achievement, but also it turned out to be the
weakest link and the biggest threat and danger to the European Union.

Item Type:	Book Section
Additional Information:	COBISS.ID=45256975
Research Department:	?? H1 ??
Depositing User:	Jelena Banovic
Date Deposited:	24 Oct 2016 11:40
Last Modified:	24 Oct 2016 11:40
URI:	http://35.240.28.64/id/eprint/807
Author Links:	[error in script] No links available.

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