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It is argued the current eurozone crisis is neither new nor surprising. Fiscal discipline in the eurozone was weak from its creation in 1999, but ongoing economic prosperity limited the damage.
Prokopijević Miroslav
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Euro Conditionality Hinges on Positive Convergence
The present cocktail of a bleak economic outlook combined with high inflation and rising interest rates has raised questions as to whether a new euro debt crisis might emerge.
Michala Marcussen
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Objective: The objective of the article is to identify the determinants of the EU countries’ sovereign credit ratings with a particular focus on the impact of the euro area crisis.
Ewa Stawasz-Grabowska
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The euro area crisis was characterised by a negative feedback loop between banks and sovereigns. The paper aims to indicate the genesis of this phenomenon and to determine the scale of its operation during the crisis and post-crisis conditions, as well ...
Ewa Stawasz-Grabowska
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Last tango in the Euro Area: Cracks in foundations of the Euro construct [PDF]
The crisis of sovereign debt and banking system in the Euro Area seriously endanger not only economic stability of the Old continent, but also of the world economy as a whole. In this study, we identify causes of the crisis and point towards plausible
Radonjić Ognjen, Zec Miodrag
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There is thus a fundamental credibility issue about the willingness of the ECB to be a lender of last resort in the government bond markets. This will continue to make the eurozone a fragile construction.
Paul De Grauwe
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Volatility spillovers between the European and South African foreign exchange markets
This article investigates the exchange rate volatility spillover and dynamic conditional correlation between the euro and the South African rand following the Eurozone sovereign debt crisis.
Olivier Niyitegeka, Devi Datt Tewari
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EURO MEMBERSHIP, FOREIGN BANKS AND CREDIT DEVELOPMENTS DURING THE FINANCIAL CRISIS IN SLOVAKIA: A CASE STUDY [PDF]
Slovakia joined the euro area after a period of unprecedented real appreciation. The response to financial crisis combined internal devaluation with productivity increasing measures, including capital deepening in the banking sector.
Jarko Fidrmuc, Andreas Wörgötter
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Declining Japanese Yen in the Changing International Monetary System
The US dollar has kept as a position of key currency in the global economy in the changing international monetary system where the euro was introduced to some states of the EU in 1999. It is an evidence of inertia of the US dollar as a key currency.
Eiji Ogawa , Makoto Muto
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Ante la actual situación de la moneda única y de la Unión Económica y Monetaria (UEM), en este editorial partimos de algunos conceptos que ya fueron analizados en editoriales anteriores (qué es una unión monetaria y cómo este concepto se aplicó, qué es ...
Consejo de Redacción
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