Year: 2011
Author: Fahrholz, Christian, Freytag, Andreas
Applied Economics Quarterly, Vol. 57 (2011), Iss. 1 : pp. 15–25
Abstract
The TARGET2-system impedes economic recovery within the EMU. Hard budget constraints are a key to kick-start structural reforms in some EMU-member countries. However, the TARGET2-system is not only aggravating real misalignments but also softening budget constraints. The authors argue that the European settlement system is not only a monetary issue but of
JEL Classification: E02, E42, E44, E63, H63
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Journal Article Details
Publisher Name: Global Science Press
Language: English
DOI: https://doi.org/10.3790/aeq.57.1.15
Applied Economics Quarterly, Vol. 57 (2011), Iss. 1 : pp. 15–25
Published online: 2011-01
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 11