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Is the EURO' a Defunct Currency?

Author

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  • Constantinos Alexiou

    (Cranfield University, School of Management, UK.)

  • Joseph Nellis

    (Cranfield University, School of Management, UK.)

Abstract

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.

Suggested Citation

  • Constantinos Alexiou & Joseph Nellis, 2012. "Is the EURO' a Defunct Currency?," International Journal of Economics and Financial Issues, Econjournals, vol. 2(3), pages 296-303.
    • Handle: RePEc:eco:journ1:2012-03-7
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    References listed on IDEAS

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    Cited by:

    1. Marek Loužek, 2015. "Eurozone Crisis," Prague Economic Papers, Prague University of Economics and Business, vol. 2015(1), pages 88-104.

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    More about this item

    Keywords

    Optimum Currency Area; Economic and Monetary Integration; Euro; Greece.;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission

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