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A Diary of the Euro Crisis in CyprusThe Euro at Breaking Point

A Diary of the Euro Crisis in Cyprus: The Euro at Breaking Point [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.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Diary of the Euro Crisis in CyprusThe Euro at Breaking Point

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References (2)

Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s) 2017
ISBN
978-3-319-62222-4
Pages
81 –87
DOI
10.1007/978-3-319-62223-1_9
Publisher site
See Chapter on Publisher Site

Abstract

[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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