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The Eurozone and Brexit

In: Modern Monetary Theory

Author

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  • Stuart Medina Miltimore
  • William Mitchell

Abstract

In this chapter, we will examine the viability of the European Union, with a particular focus on the Economic and Monetary Union (EMU) given the architectural flaws in the design of the common currency that have been exposed by the Global Financial Crisis, and, more recently, by the pandemic. We will briefly explore the history of integration in Europe and the circumstances that led to the creation of the common currency. We will consider the logic of Britain's decision to avoid entry to the EMU in the 1990s and more recently to exit the European Union.

Suggested Citation

  • Stuart Medina Miltimore & William Mitchell, 2023. "The Eurozone and Brexit," Chapters, in: L. R. Wray & Phil Armstrong & Sara Holland & Claire Jackson-Prior & Prue Plumridge & Neil Wilson (ed.), Modern Monetary Theory, chapter 7, pages 152-181, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21315_7
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    Keywords

    Economics and Finance;

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