Don’t Blame the Euro

Historical Reflections on the Roots of the Eurozone Crisis

Dados Bibliográficos

ID8042018
AutoresEmmanuel Mourlon-Druol (0000-0002-5560-4333, University of Glasgow, autor correspondente)
Ano2014
Volume37
Fascículo6
Páginas1282-1296
Data de publicação2014-08-14
Peer ReviewedSim
Open AccessSim
TipoARTICLE
PeriódicoWest European Politics (JOURNAL)
Identificadores do periódicoISSN: 0140-2382 • E-ISSN: 1743-9655
EditoraTaylor & Francis (PUBLISHER • GB)
DOI10.1080/01402382.2014.929353
OpenAlexW2132022800
IdiomaEN
Citações recebidas14
Referências citadas18

The article argues that many of the issues that are causing trouble in the eurozone today had long been debated, but not solved, prior to the beginning of the so-called euro crisis. Three thematic examples are used to show this: the decade-long discussion surrounding economic convergence and the question of a transfer union; the dispute over the alleged use of financial mechanisms as a substitute for addressing structural economic weaknesses; and the development of European banking regulation and supervision before the creation of the single currency. Finally, the article argues that even though some of the features of today’s crises – in particular the debt and deficit issues – were outlined at the time of the euro’s introduction, some important recent developments such as the various new operations undertaken by the European Central Bank were not. This should command modesty and cautiousness in the analysis of the evolution of the euro crisis

Blame · Convergence (economics · Currency · Debt · Debt crisis · Economics · European debt crisis · European integration · European union · Financial crisis · Financial system · International economics · Keynesian economics · Macroeconomics · Political economy · Political science · Single currency · European Monetary and Fiscal Policies · Global Financial Crisis and Policies · Global Financial Regulation and Crises