IDEAS home Printed from https://ideas.repec.org/a/aic/saebjn/v66y2019i3p191-202n158.html
   My bibliography  Save this article

The Euro – A German Perspective

Author

Listed:
  • Horst Brezinski

Abstract

The Euro has been a hotly debated issue in Germany. Still 20 years after the introduction of the Euro there exist many opponents in Germany. Are their arguments correct? Has Germany benefitted from the Euro or is Germany suffering from the Euro? The article discusses these questions by looking back on the theoretical foundations for a single currency. Following this analysis, the macroeconomic performance of the Eurozone and especially of Germany is presented. Macroeconomic calculations show that Germany seems to be the biggest winner of the introduction of the Euro. The article presents some explanations for this result and makes a short-term and long-term appraisal about winners and losers and potential problems in the future. Different scenarios will be outlined for overcoming the problems with the Euro and lessons for the future will be drawn. JEL Codes - E52; F32; F36

Suggested Citation

  • Horst Brezinski, 2019. "The Euro – A German Perspective," Scientific Annals of Economics and Business (continues Analele Stiintifice), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 66(3), pages 191-202, December.
    • Handle: RePEc:aic:saebjn:v:66:y:2019:i:3:p:191-202:n:158
    as

    Download full text from publisher

    File URL: http://saeb.feaa.uaic.ro/index.php/saeb/article/view/1156
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Markus K. Brunnermeier & Harold James & Jean-Pierre Landau, 2016. "The Euro and the Battle of Ideas," Economics Books, Princeton University Press, edition 1, number 10828.
    2. Hans-Werner Sinn, 2015. "Der Euro: Von der Friedensidee zum Zankapfel," Books, by Staff of the ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 2015001.
    3. Hans-Werner Sinn, 2015. "The Euro: From Peace Project to Bone of Contention," Books, by Staff of the ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 201510, April.
    4. Ronny Mazzocchi & Roberto Tamborini, 2019. "Current Account Imbalances and the Euro Area: Alternative Views," EconPol Working Paper 27, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    5. Tokarski, Paweł, 2019. "Divergence and diversity in the Euro Area: The case of Germany, France and Italy," SWP Research Papers 6/2019, Stiftung Wissenschaft und Politik (SWP), German Institute for International and Security Affairs.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Markus Taube & Wolfgang Wiegard & Christoph Kaserer & Daniel Stelter, 2017. "Ten Years After: Eine Bilanz der Finanz- und Weltwirtschaftskrise," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 70(17), pages 03-16, September.
    2. Jost, Thomas & Seitz, Franz, 2021. "Designing a European Monetary Fund: What role for the IMF?," IMFS Working Paper Series 151, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    3. Eger, Thomas & Weise, Peter, 2020. "Die Target-Salden in der Eurozone: "Falle" oder Scheinproblem?," Discussion Papers 1/20, Europa-Kolleg Hamburg, Institute for European Integration.
    4. Eger Thomas & Schäfer Hans-Bernd, 2016. "Introduction: Eurobonds beyond Crisis Management," Review of Law & Economics, De Gruyter, vol. 12(3), pages 477-494, November.
    5. Dieter Dziadkowski, 2016. "Zur künftigen Steuerbelastung in Deutschland," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 69(11), pages 27-33, June.
    6. Clemens Fuest & Hans-Werner Sinn, 2018. "Target-Risiken ohne Euro-Austritte," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 71(24), pages 15-25, December.
    7. Shafik Hebous & Alfons Weichenrieder, 2016. "Toward a Mutualization of European Unemployment Insurance? On Limiting the Downsides of a Fiscal Transfer System for the Eurozone," CESifo Economic Studies, CESifo Group, vol. 62(2), pages 376-395.
    8. von Prollius Michael & Schnabl Gunther, 2016. "Geldpolitik, Arabellion und Flüchtlingskrise: Die sehr lockere Geldpolitik der großen Industrieländer kommt in Form der Flüchtlingskrise auf Europa zurück," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 65(3), pages 299-320, December.
    9. Schäfer Hans-Bernd & Bigus Jochen, 2016. "Consequences of Different Eurobond Proposals," Review of Law & Economics, De Gruyter, vol. 12(3), pages 523-553, November.
    10. Hans-Werner Sinn, 2018. "The ECB’s fiscal policy," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 25(6), pages 1404-1433, December.
    11. Frank Westermann, 2018. "Vorstellung der Thesen von Hans-Werner Sinn: Europa: So oder so – eine Einführung in die Themen und Thesen," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 71(18), pages 54-56, September.
    12. Afflatet Nicolas, 2016. "La malaise française – Frankreichs Haushaltskrise und warum sie anhalten wird," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 65(1), pages 075-095, May.
    13. Scharpf, Fritz W., 2018. "There is an alternative: A two-tier European currency community," MPIfG Discussion Paper 18/7, Max Planck Institute for the Study of Societies.
    14. Mink, Reimund, 2024. "Helmut Schlesinger: Wegbereiter und Garant der deutschen Geld- und Stabilitätspolitik wird 100," IMFS Working Paper Series 208, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    15. Andreas Nastansky & Sarah Siris, 2024. "Risikoverbund zwischen Banken und Staaten: Eine empirische Analyse für den Euroraum," Statistische Diskussionsbeiträge 56, Universität Potsdam, Wirtschafts- und Sozialwissenschaftliche Fakultät.
    16. Afflatet Nicolas, 2019. "Der Fiskalpakt: Schlüssel für dauerhaft solide Finanzen in der Eurozone?," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 68(2), pages 183-201, August.
    17. Federico Maria Ferrara & Jörg S Haas & Andrew Peterson & Thomas Sattler, 2022. "Exports vs. Investment: How Public Discourse Shapes Support for External Imbalances," Post-Print hal-02569351, HAL.
    18. Boyer, Pierre & Blesse, Sebastian & Bordignon, Massimo & Carapella, Piergiorgio & Heinemann, Friedrich & Janeba, Eckhard & Raj, Anasuya, 2020. "The future of the European project: survey results from members of national parliaments in France, Italy and Germany," CEPR Discussion Papers 15021, C.E.P.R. Discussion Papers.
    19. Jesus Fernandez-Villaverde & Tano Santos, 2017. "Institutions and Political Party Systems: The Euro Case," PIER Working Paper Archive 17-014, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 03 Jul 2017.
    20. Lucia Quaglia & Amy Verdun, 2025. "The European Central Bank: From a Price Stability Paradigm to a Multidimensional Stability Paradigm," Politics and Governance, Cogitatio Press, vol. 13.

    More about this item

    Keywords

    European Monetary Union; ECB; euro; Optimal Currency Area; current account;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aic:saebjn:v:66:y:2019:i:3:p:191-202:n:158. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sireteanu Napoleon-Alexandru (email available below). General contact details of provider: https://edirc.repec.org/data/feaicro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.