Year: 2018
Author: Donnelly, Shawn
Credit and Capital Markets – Kredit und Kapital, Vol. 51 (2018), Iss. 1 : pp. 113–126
Abstract
This paper examines the impact of conflicting ECB and Eurogroup narratives over the nature of the Eurozone crisis and the proper strategy for exiting it. While the Eurogroup prefers a simple austerity-focused policy to ensure distributional outcomes benefiting Northern Europe, the ECB advocates a carefully sequenced combination of growth-enhancing, budget balancing and structural adjustment policies. The confrontation over ECB measures to stabilise the Eurozone through monetary policy is partially and temporary relieved by Commission leniency, and partly through informal German accommodation. A formal adjustment of Eurogroup policy is unlikely, however.
Journal Article Details
Publisher Name: Global Science Press
Language: English
DOI: https://doi.org/10.3790/ccm.51.1.113
Credit and Capital Markets – Kredit und Kapital, Vol. 51 (2018), Iss. 1 : pp. 113–126
Published online: 2018-03
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 14
Keywords: ECB Eurozone EMU structural adjustment macroeconomic policy Scientific Papers E4 E5 E6 H6
Author Details
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| Section Title | Page | Action | Price |
|---|---|---|---|
| Shawn Donnelly: ECB-Eurogroup Conflicts and Financial Stability in the Eurozone | 1 |