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What Will Happen To The Euro?

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  • Bernard Connolly
  • John Whittaker

Abstract

The Stability Pact ‐ intended to make EMU governments run prudent budgets ‐ is losing its credibility. This article asks the question: what will happen if national debts start to rise again and some governments then have difficulty borrowing? It suggests that there will be calls for bailout, that the EU's political structures will not cope well with the resulting arguments over which countries will pay, and that the eventual and painful result will be a return to the principle that currencies and political areas coincide.

Suggested Citation

  • Bernard Connolly & John Whittaker, 2003. "What Will Happen To The Euro?," Economic Affairs, Wiley Blackwell, vol. 23(1), pages 49-54, March.
    • Handle: RePEc:bla:ecaffa:v:23:y:2003:i:1:p:49-54
    DOI: 10.1111/1468-0270.00401
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    Cited by:

    1. David Blake, 2023. "Target2: The Silent Bailout System That Keeps the Euro Afloat," JRFM, MDPI, vol. 16(12), pages 1-126, December.
    2. Apergis, Emmanuel & Apergis, Iraklis & Apergis, Nicholas, 2019. "A new macro stress testing approach for financial realignment in the Eurozone," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 61(C), pages 52-80.

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