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Completing the Monetary Union of Europe as Mid-term Solution of the Euro Crisis

Author

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  • Fischer, Justina A.V.

    (University of Mannheim)

  • Pastore, Francesco

    (Università della Campania Luigi Vanvitelli)

Abstract

This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the social and political costs of a GREXIT, but also of a continuing austerity policy. It proposes a reform policy fostering growth in Greece and discusses the role of conditionality. Finally, the important role of mid-left parties is highlighted.

Suggested Citation

  • Fischer, Justina A.V. & Pastore, Francesco, 2015. "Completing the Monetary Union of Europe as Mid-term Solution of the Euro Crisis," IZA Discussion Papers 9230, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp9230
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    References listed on IDEAS

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    1. Philippe Karam & Douglas Laxton & David Rose & Natalia Tamirisa, 2008. "The Macroeconomic Costs and Benefits of Adopting the Euro," IMF Staff Papers, Palgrave Macmillan, vol. 55(2), pages 339-355, June.
    2. Andrew K. Rose, 2000. "One money, one market: the effect of common currencies on trade," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 15(30), pages 08-45.
    3. Eichengreen, Barry, 1993. "European Monetary Unification," Journal of Economic Literature, American Economic Association, vol. 31(3), pages 1321-1357, September.
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    More about this item

    Keywords

    IMF; Germany; Greece; Euro; Europe; Monetary Union;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • F15 - International Economics - - Trade - - - Economic Integration
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • O42 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Monetary Growth Models
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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