Economie in Crisi: Eurolandia Dalla Resistenza Alla Ricostruzione (Economies in Crisis: Euroland From Resistance to Reconstruction) (in Italian)
Moneta e Credito, Vol. 64, No. 254, pp. 105-114, 2011
10 Pages Posted: 28 Sep 2011 Last revised: 3 Oct 2011
Date Written: September 27, 2011
In this article we underline the effects of the crisis that erupted in the U.S. in 2008, due to financial hazard, and then spread everywhere, to assess how the euro zone (EMU) and its countries have acted. We will consider two periods that the EMU has passed through, each characterized by a different attitude towards the crisis: diversified resistance (with more deficits and higher debt, that in many countries was due to bail out banks); unified resistance (intergovernmental coordination, with a common special vehicle (EFSF), ratified by Ecofin and the European Council). We conclude with references to 2011 when the 'regulation with actions for growth' might begin.
Note: Downloadable document is in Italian.
Keywords: aggregate debt, eurogovernance, intergovernmental coordination
JEL Classification: E00, E02
Suggested Citation: Suggested Citation