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European Imbalances: The Sound and the Fury

In: Development in Turbulent Times

Author

Listed:
  • Jérôme Creel

    (Observatoire français des conjonctures économiques (OFCE, Sciences Po))

Abstract

As in the novel by William Faulkner, the perspective which is chosen to tell a story or, here, to explain a broad crisis matters a lot. The European crisis is no exception. Different views can explain the growing imbalances in the Eurozone, from the fiscal view to the labour market view. In this chapter, I critically review these separate explanations and highlight the necessity to gather the pieces to understand the full story. So doing, I can discuss the recent reforms (aggregate fiscal stance, productivity boards), the current agenda of reforms (e.g. Eurozone budget) and alternative proposals to enhance Eurozone governance, integration, and future development.

Suggested Citation

  • Jérôme Creel, 2019. "European Imbalances: The Sound and the Fury," Springer Books, in: Paul Dobrescu (ed.), Development in Turbulent Times, pages 73-88, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-11361-2_6
    DOI: 10.1007/978-3-030-11361-2_6
    as

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