IDEAS home Printed from https://ideas.repec.org/a/bas/econst/y2015i1p3-15.html
   My bibliography  Save this article

Influence of the Euro Crisis on the Prospects of the European Single Market

Author

Listed:
  • Elena Makrevska Disoska

Abstract

There is a growing concern about the future of the European Monetary Union (EMU) and the sustainability of the Euro. The worst case scenario: the break-up of the Single currency would not remain limited to the EMU itself, but would cause huge macroeconomic disruptions. Furthermore, if the countries reintroduce their national currencies, economically stronger countries will experience domestic currency appreciation towards the weaker economic counties. That would mean reduction of their exports, i.e. reduction of the price competitiveness. In such a situation, in order to protect their domestic economies, the countries will introduce protectionist measures which would suspend the Single market. Without the free movement of factors of production it is impossible for the Union to survive. This means that if the Eurozone falls apart, there will be a complete end to the Union. Returning back to the stages of regional integration as common market or customs union is theoretically impossible. Still, in any possible scenarios for how the Euro crisis might develop would adversely affect the Single market. Solving the macroeconomic imbalance of the Union will be a condition for its sustainability in the future and for insuring better future prospects of the Single Market.

Suggested Citation

  • Elena Makrevska Disoska, 2015. "Influence of the Euro Crisis on the Prospects of the European Single Market," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 3-15.
    • Handle: RePEc:bas:econst:y:2015:i:1:p:3-15
    as

    Download full text from publisher

    File URL: http://www.ceeol.com/aspx/issuedetails.aspx?issueid=4eef1726-e551-4497-8e2e-2b80b020b66e&articleid=afc6933e-55ad-4cc9-a06a-b6377bed77c3#aafc6933e-55ad-4cc9-a06a-b6377bed77c3
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Athanassiou, Phoebus, 2009. "Withdrawal and expulsion from the EU and EMU: some reflections," Legal Working Paper Series 10, European Central Bank.
    2. David H. Romer & Jeffrey A. Frankel, 1999. "Does Trade Cause Growth?," American Economic Review, American Economic Association, vol. 89(3), pages 379-399, June.
    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. Jinsuk Yang & Qing Hao & Mahmut Yaşar, 2023. "Institutional investors and cross‐border mergers and acquisitions: The 2000–2018 period," International Review of Finance, International Review of Finance Ltd., vol. 23(3), pages 553-583, September.
    2. Philip Stevens & Jasson Urbach & Gabrielle Wills, 2013. "Healthy Trade: The Relationship Between Open Trade and Health," Foreign Trade Review, , vol. 48(1), pages 125-135, February.
    3. Vieira, Flávio & MacDonald, Ronald & Damasceno, Aderbal, 2012. "The role of institutions in cross-section income and panel data growth models: A deeper investigation on the weakness and proliferation of instruments," Journal of Comparative Economics, Elsevier, vol. 40(1), pages 127-140.
    4. Paolo Epifani & Gino Gancia, 2008. "The Skill Bias of World Trade," Economic Journal, Royal Economic Society, vol. 118(530), pages 927-960, July.
    5. Ramon Moreno, 2001. "Pegging and stabilization policy in developing countries," Economic Review, Federal Reserve Bank of San Francisco, pages 17-29.
    6. Iamsiraroj, Sasi, 2016. "The foreign direct investment–economic growth nexus," International Review of Economics & Finance, Elsevier, vol. 42(C), pages 116-133.
    7. Lederman, Daniel & Saenz, Laura, 2005. "Innovation and development around the world, 1960-2000," Policy Research Working Paper Series 3774, The World Bank.
    8. Tovar, Jorge, 2012. "Consumers’ Welfare and Trade Liberalization: Evidence from the Car Industry in Colombia," World Development, Elsevier, vol. 40(4), pages 808-820.
    9. Badinger, Harald & Egger, Peter, 2013. "Spacey Parents and Spacey Hosts in FDI," Department of Economics Working Paper Series 154, WU Vienna University of Economics and Business.
    10. Vlatka Bilas & Mile Bosnjak, 2015. "Revealed Comparative Advantage And Merchandise Exports: The Case Of Merchandise Trade Between Croatia And The Rest Of The European Union Member Countries," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 24(1), pages 29-47, june.
    11. Löschel, Andreas & Pothen, Frank & Schymura, Michael, 2015. "Peeling the onion: Analyzing aggregate, national and sectoral energy intensity in the European Union," Energy Economics, Elsevier, vol. 52(S1), pages 63-75.
    12. Huy Quang Doan, 2019. "Trade, Institutional Quality and Income: Empirical Evidence for Sub-Saharan Africa," Economies, MDPI, vol. 7(2), pages 1-23, May.
    13. Bühler, Mathias, 2024. "Who Benefits from Free Trade?," World Development, Elsevier, vol. 179(C).
    14. Eduardo A. Cavallo, 2008. "Output Volatility and Openness to Trade: a Reassessment," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Fall 2008), pages 105-152, September.
    15. Salman Haider & Aadil Ahmad Ganaie & Bandi Kamaiah, 2019. "Total Factor Productivity and Openness in Indian Economy: 1970–2011," Foreign Trade Review, , vol. 54(1), pages 46-57, February.
    16. Manuel Funke & Moritz Schularick & Christoph Trebesch, 2023. "Populist Leaders and the Economy," American Economic Review, American Economic Association, vol. 113(12), pages 3249-3288, December.
    17. Kym Anderson, 2005. "On the Virtues of Multilateral Trade Negotiations," The Economic Record, The Economic Society of Australia, vol. 81(255), pages 414-438, December.
    18. Maximiliano Marzetti & Rok Spruk, 2023. "Long-Term Economic Effects of Populist Legal Reforms: Evidence from Argentina," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 65(1), pages 60-95, March.
    19. Ola Olsson, 2005. "Geography and institutions: Plausible and implausible linkages," Journal of Economics, Springer, vol. 10(1), pages 167-194, December.
    20. Elhanan Helpman & Marc Melitz & Yona Rubinstein, 2008. "Estimating Trade Flows: Trading Partners and Trading Volumes," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 123(2), pages 441-487.

    More about this item

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts

    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:bas:econst:y:2015:i:1:p:3-15. 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: Diana Dimitrova (email available below). General contact details of provider: https://edirc.repec.org/data/ikbasbg.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.