Is the ‘EURO’ a Defunct Currency?

Yıl 2012, Cilt: 2 Sayı: 3, 296 - 303, 01.09.2012

Constantinos Alexıou Joseph Nellis

https://izlik.org/JA52HA63CM

Öz

In this paper we provide a brief discourse on the theory of optimum currency areas to serve as a basis for constructive criticism of the conceptual framework of the eurozone. With particular reference to the Greek economic crisis, we argue that the very architecture of the EU experiment involving the single currency was inherently flawed from the outset in so far as political pressures to speed up the process towards a politically unified Europe has resulted in what is perceived as the worst economic impasse in the history of modern capitalism.

Anahtar Kelimeler

Optimum Currency Area , Economic and Monetary Integration , Euro , Greece.