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Zona Euro: un adevăr care nu convine

Author

Listed:
  • Croitoru Lucian

    (Banca Naţională a României)

Abstract

In this study, we show that the main problem facing the Eurozone economy is the relatively low competitiveness of the PIIGS economies. Findings show that the defining trait of PIIGS countries is neither budget deficits, nor public debt, but rather the current account deficits. We argue that, while tightening fiscal discipline within the Eurozone is a must, it does not solve that problem.

Suggested Citation

  • Croitoru Lucian, 2012. "Zona Euro: un adevăr care nu convine," Revista OEconomica, Romanian Society for Economic Science, Revista OEconomica, issue 03, September.
    • Handle: RePEc:oen:econom:y:2012:i:03:id:332
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    Citations

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    as


    Cited by:

    1. Monica SUSANU, 2014. "Trilemma EU and EMU Challenges: Fiscal Competition, Harmonization or Unification," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 3, pages 109-116.

    More about this item

    Keywords

    competitiveness; productivity; current account deficit; crisis; recession; quantitative easing; Eurozone;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts
    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General

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