Next Article in Journal
Socio-Economic Implications of Drought in the Agricultural Sector and the State Economy
Previous Article in Journal
Why Migrate: For Study or for Work?
Previous Article in Special Issue
Convergence and Heterogeneity in Euro Based Economies: Stability and Dynamics
Article Menu

Export Article

Open AccessArticle
Economies 2016, 4(3), 18; doi:10.3390/economies4030018

Going Forward from B to A? Proposals for the Eurozone Crisis

1
Department of Policy Analysis and Public Management, Università Bocconi, Milano 20136, Italy
2
Levy Economics Institute, Bard College, Annandale-on-Hudson 12504, NY, USA
3
Department of Economics and Law, Università di Cassino e del Lazio Meridionale, Cassino 03043, Italy
*
Author to whom correspondence should be addressed.
Academic Editor: Hardy Hanappi
Received: 29 April 2016 / Revised: 10 August 2016 / Accepted: 11 August 2016 / Published: 24 August 2016
(This article belongs to the Special Issue Breakpoint of the Euro Zone?)
View Full-Text   |   Download PDF [979 KB, uploaded 24 August 2016]   |  

Abstract

After reviewing the main determinants of the current Eurozone crisis, this paper discusses the feasibility of introducing fiscal currencies as a way to restore fiscal space in peripheral countries, such as Greece, which have so far adopted austerity measures in order to abide by their commitments with Eurozone institutions and the IMF. We show that the introduction of fiscal currencies would speed up the recovery, without violating the rules of Eurozone Treaties. At the same time, these processes could help the transition of the euro from its current status of single currency to a status of “common clearing currency” along the lines proposed by Keynes at Bretton Woods as a system of international settlements. Eurozone countries could therefore move from “Plan B” aimed at addressing member state domestic problems, to a “Plan A” of a better European monetary system. View Full-Text
Keywords: euro; fiscal currencies; austerity; current account imbalances, Clearing Union euro; fiscal currencies; austerity; current account imbalances, Clearing Union
Figures

Figure 1

This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

Scifeed alert for new publications

Never miss any articles matching your research from any publisher
  • Get alerts for new papers matching your research
  • Find out the new papers from selected authors
  • Updated daily for 49'000+ journals and 6000+ publishers
  • Define your Scifeed now

SciFeed Share & Cite This Article

MDPI and ACS Style

Amato, M.; Fantacci, L.; Papadimitriou, D.B.; Zezza, G. Going Forward from B to A? Proposals for the Eurozone Crisis. Economies 2016, 4, 18.

Show more citation formats Show less citations formats

Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Related Articles

Article Metrics

Article Access Statistics

1

Comments

[Return to top]
Economies EISSN 2227-7099 Published by MDPI AG, Basel, Switzerland RSS E-Mail Table of Contents Alert
Back to Top