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The Break-Up of the Eurozone?

Published online by Cambridge University Press:  01 January 2023

Bill Lucarelli
Bill Lucarelli*
Affiliation:
University of Western Sydney, Australia
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Abstract

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The euro project is now at the threshold of disintegration as the fault-lines between the core/surplus countries and the peripheral/deficit countries experience a profound rupture. In the absence of political union or fiscal federalism, these centrifugal forces appear to be irreversible. It is difficult to envisage the current system, with its internal contradictions, surviving the crisis that now engulfs the entire eurozone. The present crisis is to a large extent the continuation of the longstanding neoliberal policies favoured by Germany, which have informed the creation of the euro. This article examines the historical context of the debt crisis and the institutional design of this flawed monetary edifice.

Keywords

B5B14B16B23Eurozonefinanceinvestmentmonetary crisisunemployment
Type
Article
Information
The Economic and Labour Relations Review , Volume 23 , Issue 4 , November 2012 , pp. 25 - 38
Copyright
Copyright © The Author(s) 2012

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