Roots of the weaknesses of the euro. Euro nõrkuste juured
Keywords: European Monetary Union, European Central Bank, international monetary arrangements, budget deficit and dept
AbstractThe aim of the euro was to speed up the integration process and economic development in Europe. History of euro showed us that these optimistic goals have been only partly fulfilled. This modest result has several essential roots. Our research showed that Europe have not been and is even not today the optimal currency area. The architecture of the EMU was incomplete: in building up it was not given enough power to ECB, also were underestimated vitality national interests in member states. Therefore common interests in euro area were not enough protected. Last global financial and economic crisis showed clearly main weaknesses of euro and enforced to start to liquidate them. We conclude that resent reforms and enlargement of the EMU (Estonia) probably will strengthen this union
How to Cite
Sõrg, M., & Ivanova, N. (1). Roots of the weaknesses of the euro. Euro nõrkuste juured. Estonian Discussions on Economic Policy, 19(1). https://doi.org/10.15157/tpep.v19i1.438
Articles. Artikeln. Artiklid
Copyright (c) 2016 Estonian Discussions on Economic Policy
This work is licensed under a Creative Commons Attribution 4.0 International License.The publication Estonian Discussions on Economic Policy uses the Creative Commons Attribution 4.0 License. With the delivery of a paper, the author grants to the Board also the right to publish the paper in the journal. The journal has set no obstacles or prohibitions to the authors for the future, and according to the current practice, authors subsequently use their paper as they consider it appropriate. Authors are personally responsible for the content, correct spelling and formatting of their publications.