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The Eurozone as a Quasi-Optimum Currency Area

In: ONE CURRENCY, TWO EUROPES

Author

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  • Bruno Dallago

Abstract

The previous chapters assessed the external economic context of the Eurozone and its internal consistency in the years before the crisis. The overall conclusion was that the Eurozone economic performance and competitiveness were decreasing. Moreover, the process of catching-up to the United States had slowed down, lost momentum and gone in reverse. Yet the situation was far from being hopeless. Some of the main reasons for the diminished relative performance of the Eurozone (such as the decreased number of hours worked compared to other countries and the ageing of the population) were traded off for better welfare and quality of life. Consequently, they should be ascribed to the preferences of Europeans compared to those of other countries.

Suggested Citation

  • Bruno Dallago, 2016. "The Eurozone as a Quasi-Optimum Currency Area," World Scientific Book Chapters, in: ONE CURRENCY, TWO EUROPES, chapter 6, pages 193-235, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814759021_0006
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