The Euro Crisis
On the Franco-German Euro Contradiction and Ultimate Euro Battleground. The Euro Debt Crisis and Germany’s Euro Trilemma. Germany And The Euro: Paragon Or Parasite? Nabataeans - Euro Economy paper - sources. The Economics and Politics of the Euro Crisis: A Varieties-of-Capitalism Perspective. The future of Europe's economy: Disaster or deliverance? Austerity and the Eurozone Crisis. Yanis Varoufakis: The US Treasury is Right About Germany’s Eurozone Policies: Here is Why. By Yanis Varoufakis, professor of economics at the University of Athens.
Cross posted from his blog On 30th October, in its Report to Congress on Economic and Exchange Rate Policies, the US Treasury took a swipe at Germany, accusing it of exporting economic depression to the rest of Eurozone and, indeed, to the global economy. The German Finance Ministry responded the next day with a statement that: “There are no imbalances in Germany that need correction. On the contrary, the innovative German economy contributes significantly to global growth through exports and the import of components for finished products.” There are few occasions in any argument where one side is completely right and the other comprehensively wrong.
Towards a Model OF THE unfolding EUROZONE crisis.
The Economics of Monetary Unions
To sort... Managing a fragile Eurozone. A monetary union is more than just a single currency and a single central bank.
Countries that join a monetary union lose more than one instrument of economic policy. They lose their capacity to issue debt in a currency over which they have full control. This separation of decisions – debt issuance on the one hand and monetary control on the other – creates a critical vulnerability; a loss of market confidence can unleash a self-fulfilling spiral that drives the country into default (see Kopf 2011).