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- Title
EURO BÖLGESİ BORÇ KRİZİ VE EKONOMİK BÜYÜME İLİŞKİSİ.
- Authors
Şeker, Hilal; Demirel, Baki; Eroğlu, İlhan
- Abstract
The debt crisis of the Euro zone fist emerged in Greece. Even if EU contries throught into face a plan packed by IMF to save Greece from bankruptcy May 2010, they failed to prevent the crisis preading to after countries because of disagrements they face and the reasons such as the process in being long. In this process the debt crisis has spread to countries such as Ireland, Portugal, Spain and Italy. The process of debt crisis has been effective in implemention of monetary and finance policy for crisis solution of EU institutions. Spreading to the Euro zone after starting in Greece, this crisis that led to questioning of the permance of the Euro zone. Belonging events we tried to summerize have led to long-running recession and stag-deflation for Euro zone. The fragmentation of financial markets in the Euro zone weakness of bank balance sheets, uncertainty and fort his the lack of demand, the structural problems and the weakness of the Euro zone from the past the inoperative of traditional monetary policy, the increasing of presence of erosion, the lack of coordination between member states and financial integration has become the factors that deepened the crisis. A long lasting depression occured as a result of these.This study aimed to analyze the factors that define the Euro Zone development with regard to the conditions of wich we sat the framework above. The study presumed that financial policy can not be applied because of the fact that financial union that doesn't have a common financial policy would experience budget discipline problems. The study was tested presence or absence of an interrelation between the variables selected as fitting the purpose by using cointegration method and error correction model. With this design this study contributes the literature in Turkey.
- Publication
Balkan Journal of Social Sciences / Balkan Sosyal Bilimler Dergisi, 2016, Vol 5, p446
- ISSN
1309-9841
- Publication type
Article