Open Access. Powered by Scholars. Published by Universities.®
- Publication
- Publication Type
Articles 1 - 2 of 2
Full-Text Articles in Political Economy
Planning To Fail: The Eurozone, Its Sovereign Debt Crisis, And The Future Of The Union, Kyle Whitworth
Planning To Fail: The Eurozone, Its Sovereign Debt Crisis, And The Future Of The Union, Kyle Whitworth
Theses
The European Union has been one of the greatest accomplishments of modern history. Through economic and political integration has ended centuries of warfare on the continent while producing the worlds largest trading bloc. Despite the initial success of the monetary union and its single currency, the Union has been bogged down economic troubles in the form of a debt crisis among several of the member states. The recovery period of the crisis has produced growth that is slow and uneven. Countries such as Germany has assumed the role of the economic powerhouse of Europe and therefore a political leader in …
Why Over-Financialization In The Eurozone Periphery Was Inevitable: A Crisis Of Flawed Legislation And Competitive Imbalances, Maximilian Bevan
Why Over-Financialization In The Eurozone Periphery Was Inevitable: A Crisis Of Flawed Legislation And Competitive Imbalances, Maximilian Bevan
Maximilian Bevan
Over the past three years, the heads of state in the Euro area have argued over the proper monetary mechanisms to alleviate the protracted European debt crisis. This paper illuminates the often-overlooked aspects of this crisis – the fundamental failures of the monetary union from its inception. It expands the scope of analysis on the Eurozone crisis by addressing the over-financialization in the Eurozone periphery (Greece, Portugal, and Spain) within a political-economy framework. It explicates the direct relationship between the political manipulations of the legislation by Germany (analyzed from a public choice perspective) and the resulting economic consequences that the …