Will the Economic and Monetary Union in Europe Survive?
DOI:
https://doi.org/10.18559/SOEP.2017.8.1Keywords:
Public debt, Economic and Monetary Union (EMU), Euro, European Political Cooperation (EPC), European Economic Area, Debt reduction, Reduction of foreign debt, Debt repayments, IndebtednessAbstract
The aim of paper is to answer the question: What conditions should be fulfilled for the survival of the Economic and Monetary Union in the opportunities of symptoms of a financial crisis. The hypothesis concerns sovereign debt repayment and public finance reform in countries with excessive sovereign debt during a financial crisis have been formulated. The results of the analysis indicate that without a reduction of sovereign debt and deep public finance reform on the level of countries and institutional reforms at the EU' level the Economic and Monetary Union will not survive.Downloads
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