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Ending the euro crisis

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  • Feldstein, Martin

Abstract

All of the attempts to end the euro crisis and to return the Eurozone countries to healthy growth rates of income and employment have failed. The options that are currently being discussed are not likely to be more successful. If there is a politically feasible way out of the crisis, it will be through revenue neutral fiscal incentives adopted by the individual Eurozone countries. I describe some of these fiscal options after reviewing the history of failed attempts and the options that are currently on the table.
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Suggested Citation

  • Feldstein, Martin, 2015. "Ending the euro crisis," Journal of Policy Modeling, Elsevier, vol. 37(3), pages 423-427.
    • Handle: RePEc:eee:jpolmo:v:37:y:2015:i:3:p:423-427
    DOI: 10.1016/j.jpolmod.2015.03.005
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    Citations

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    Cited by:

    1. D’Aguanno, Lucio, 2015. "Monetary Policy and Welfare in a Currency Union," The Warwick Economics Research Paper Series (TWERPS) 1082, University of Warwick, Department of Economics.
    2. Marko Ðogo & Dragan Gligoriæ & Miloš Grujiæ & Boško Mekinjiæ, 2023. "The impossible trinity of developing countries – the Greek example," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 41(1), pages 271-297.
    3. D'Aguanno, Lucio, 2015. "Monetary Policy and Welfare in a Currency Union," Economic Research Papers 270012, University of Warwick - Department of Economics.
    4. repec:aly:journl:201834 is not listed on IDEAS
    5. Giannellis, Nikolaos & Koukouritakis, Minoas, 2017. "Competitiveness divergence in the Eurozone: The need for symmetric adjustment," Journal of Policy Modeling, Elsevier, vol. 39(5), pages 942-962.
    6. Radu SIMANDAN, 2020. "A gentle sceptic: Martin Feldstein and the euro," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 11, pages 378-395, December.
    7. Szakolczai, György, 2020. "Az euró reformja - a keynesi szellemű megoldás [Reform of the euro: the Keynesian solution]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 911-929.
    8. Harashima, Taiji, 2015. "A Way Out of the Euro Crisis: Fiscal Transfers Are Indispensable for Sustainability in a Union with Heterogeneous Members," MPRA Paper 63025, University Library of Munich, Germany.
    9. Ricci-Risquete, Alejandro & Ramajo, Julián, 2015. "The effects of fiscal policy on the Spanish economy: Keynesian or non-Keynesian behavior?," Journal of Policy Modeling, Elsevier, vol. 37(6), pages 1019-1048.
    10. Apostolakis, Georgios N. & Giannellis, Nikolaos & Papadopoulos, Athanasios P., 2019. "Financial stress and asymmetric shocks transmission within the Eurozone. How fragile is the common monetary policy?," The North American Journal of Economics and Finance, Elsevier, vol. 50(C).

    More about this item

    Keywords

    Euro crisis; Budget austerity; Fiscal compact; European Central Bank; Structural reforms;
    All these keywords.

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue

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