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Austritt einzelner Länder aus der Währungsunion: ein Szenario

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  • Gerd Grözinger

Abstract

The exit of a member state from the eurozone is often depicted as a catastrophic event that would lead to uncontrollable havoc in the financial markets. In this contribution, an alternative scenario is developed based on a consensual understanding. It describes a multi-year transition period during which all member states’ payments were automatically realised on the basis of a basket consisting of the euro and the new currency. In the remaining eurozone countries, the relative weight of the euro would increase over time, while it would decrease in the exit state. The hope is that the possibility of a smooth exit path would increase the bargaining power to change the governance rules of the eurozone. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2014

Suggested Citation

  • Gerd Grözinger, 2014. "Austritt einzelner Länder aus der Währungsunion: ein Szenario," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 94(4), pages 294-299, April.
    • Handle: RePEc:spr:wirtsc:v:94:y:2014:i:4:p:294-299
    DOI: 10.1007/s10273-014-1670-1
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    Keywords

    E42; E58; H63;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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