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Doomsday for the Euro Area: Causes, Variants and Consequences of Breakup

1
Department for Macroeconomics, DIW Berlin, Mohrenstraße 58, 10117 Berlin, Germany
2
Department of Economics, University of Duisburg-Essen, Universitätsstraße 12, 45117 Essen, Germany
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Author to whom correspondence should be addressed.
Int. J. Financial Stud. 2013, 1(1), 1-15; https://doi.org/10.3390/ijfs1010001
Received: 5 April 2012 / Revised: 18 June 2012 / Accepted: 20 June 2012 / Published: 6 July 2012
In this paper we describe the genesis of a doomsday scenario and discuss potential causes and motivations for a breakup of the euro area. For this purpose, we differentiate between the departure of weak and strong countries, and examine the impact of the reintroduction of a national currency on domestic debt, the domestic banking sector, EU membership and the freedom of trade. We also briefly analyze the social and political costs of the accompanying social disorder. View Full-Text
Keywords: banking crisis; debt crisis; exchange rates; euro; optimum currency area; secession banking crisis; debt crisis; exchange rates; euro; optimum currency area; secession
MDPI and ACS Style

Belke, A.; Verheyen, F. Doomsday for the Euro Area: Causes, Variants and Consequences of Breakup. Int. J. Financial Stud. 2013, 1, 1-15.

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