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- Title
WHY THE EURO FAILED AND HOW IT WILL SURVIVE.
- Authors
Schwartz, Pedro
- Abstract
The author presents his perspective on the difficulties of the currency the euro as a result of financial crises in the European Union during the early 21st century. He discusses the governance of the European Central Bank (ECB), the agreement known as the Stability and Growth Pact (SGP), and the significance of the eurozone not being what the author calls an optimal currency area (OCA). The article also discusses the ECB as a lender of last resort (LLR).
- Subjects
EUROPEAN Union countries; EURO; EUROZONE economic policy; ECONOMIC conditions in the Eurozone; EUROPEAN Central Bank; MONEY; ECONOMIC conditions in the European Union; LENDERS of last resort; ECONOMIC development; ECONOMICS
- Publication
CATO Journal, 2013, Vol 33, Issue 3, p521
- ISSN
0273-3072
- Publication type
Article