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H. Gibson, S. Hall, G. Tavlas (2012)
The Greek financial crisis: growing imbalances and sovereign spreadsSSRN Electronic Journal
R. Bootle (2014)
The Trouble with Europe: Why the EU isn't Working, How it Can be Reformed, What Could Take its Place
[The euroEuro was created as an irrevocable currency union. A country can opt in but can never opt out. This design was intended to prevent speculation, which could force it to unravel—the reason why fixed exchange rate regimes and informal currency unions are unlikely to be long-lasting. It was also intended to promote convergence among member states. However, like much else in Europe, the architecture of the euroEuro left a lot to be desired. While member states have a common monetary policy, fiscal policy is left in the hands of national governments.]
Published: Oct 12, 2017
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