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  5. The Euro at 20: Successes, Problems, Progress and Threats
 
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The Euro at 20: Successes, Problems, Progress and Threats

Author(s)
Whelan, Karl  
Uri
http://hdl.handle.net/10197/10795
Date Issued
2019-06
Date Available
2019-06-12T10:54:17Z
Abstract
The euro has had a difficult second decade but the project has still had some important successes. The common currency is popular among the euro area’s citizens, intra-European exchange rate instability has been removed and the ECB has successfully achieved its primary goal of price stability. The single currency’s popularity has made the euro more resilient than many sceptics thought possible twenty years ago. A number of improvements to the architecture of EMU have been implemented in the past decade but serious tensions remain, relating to fiscal capacity, sovereign default and financial stability. To keep the euro together, Europe’s politicians need to make the euro area less crisis-prone and to make it easier for member states to recover from the inevitable cyclical downturns that will happen in the future. The past few years have seen many proposals put forward for future improvements to the economic policy structure underlying the euro. Keeping the euro together may depend on Europe’s politicians agreeing to implement them.
Type of Material
Working Paper
Publisher
University College Dublin. School of Economics
Series
UCD Centre for Economic Research Working Paper Series
WP19/14
Subjects

Euro

ECB

Single currency

Fiscal capacity

Financial stability

Economic policy struc...

Classification
E58
F45
Language
English
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License
https://creativecommons.org/licenses/by-nc-nd/3.0/ie/
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WP2019_14.pdf

Size

784.73 KB

Format

Adobe PDF

Checksum (MD5)

8ab5151b1c6ec165a7c581473c381457

Owning collection
Economics Working Papers & Policy Papers

Item descriptive metadata is released under a CC-0 (public domain) license: https://creativecommons.org/public-domain/cc0/.
All other content is subject to copyright.

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