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Stability and Competitiveness in the European Monetary Union

Author

Listed:
  • Ferran Brunet Cid

    (Universitat Autònoma de Barcelona)

Abstract

Structural non-competiveness and unruly policies have provoked severe financial instability and put certain euro zone countries in a shocking situation. Indeed, the entire European Union is at economic and political systemic risk. In this paper we shall analyze the coinciding conditions which helped generate this perfect and fatal storm: a) the structures of the European economy and of some Member States; b) the non-optimal currency zone that is the euro area; c) the profligate policies of certain governments and institutions; and d) the deficit in European economic governance. Newer and tougher mechanisms for European financial stability and detailed government measures for budget sustainability and structural reforms need to be most effective to be able to address the risks and challenges many States, and the Union itself, are facing.

Suggested Citation

  • Ferran Brunet Cid, 2013. "Stability and Competitiveness in the European Monetary Union," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 82(01), pages 81-106.
    • Handle: RePEc:ekz:ekonoz:2013105
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    More about this item

    Keywords

    Stability; Competitiviness; European Monetary Union; Economic Policy; Europe;
    All these keywords.

    JEL classification:

    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • F15 - International Economics - - Trade - - - Economic Integration
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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