scholarly journals The European Crisis Without End: The Consequences of European Monetary Integration

2016 ◽  
Vol 6 (8) ◽  
pp. 15
Author(s):  
Haytham Yousef Ewaida
Keyword(s):  
European Monetary System ◽  
Economic Effects ◽  
Monetary Integration ◽  
Financial Policy ◽  
European Monetary ◽  
Euro Zone ◽  
European Central ◽  
Monetary System ◽  
European Crisis

<p>This study tackles the Euro-Zone sovereign debts through recognizing the crisis origins, reasons, and the stages it has gone through to decide on its financial and economic effects and the approaches to deal with these effects. The study concludes that there is a real crisis at the European monetary system mechanism besides a lack of any implementable mechanism regarding growth and convergence among the Euro-Zone countries. Add to that the absence of a united financial policy for these countries. The study has approached some recommendations among which: the necessity to expedite the adoption of a united financial policy for all the Euro-Zone countries, the necessity to activate the role of the European Central Bank, the necessity to create mechanisms that can confront any emerging crises in the future.</p>

scholarly journals Imported or Home Grown? The 1992-3 EMS Crisis

2021 ◽  
Author(s):  
Barry Eichengreen ◽  
Alain Naef
Keyword(s):  
Foreign Exchange Market ◽  
European Monetary System ◽  
Exchange Market ◽  
European Monetary ◽  
Monetary System ◽  
Market Intervention ◽  
New Evidence ◽  
Market Pressure ◽  
Foreign Exchange Market Intervention

Using newly assembled data on foreign exchange market intervention, we construct a daily index of exchange market pressure during the 1992-3 crisis in the European Monetary System. Using this index, we pinpoint when and where the crisis was most severe. Our analysis focuses on a neglected factor in the crisis: the role of the weak dollar in intra-EMS tensions. We provide new evidence of the contribution of a falling dollar-Deutschmark exchange rate to pressure on EMS currencies.

European currency system: problems and developments of prospective evaluation

2019 ◽  
pp. 49-55
Author(s):  
Наталія Валерьївна Безрукова ◽  
Віталій Анатолійович Свічкарь
Keyword(s):  
Debt Crisis ◽  
European Monetary System ◽  
European Monetary ◽  
European Currency ◽  
Euro Zone ◽  
Eu Countries ◽  
Monetary System ◽  
System Functioning ◽  
Further Development ◽  
The Eu

In the article the authors investigated the problems of the European monetary system functioning. It is emphasized that the EU and the Euro zone are currently suffering from strain and unsolved problems, which do not exclude gradual decrease in the EU countries consolidation and influence. The aim of the article is to analyze present days’ problems of European Union functioning and European monetary system, in particular evaluation their further development perspectives. Debt crisis in the Euro zone sets a question to the single European currency and European integration prospective. It is noted by the authors that as a result of economic crisis Europe are divided into two macro regions, which are unsuccessful “South” and prosperous “North”. Numerous prognoses foresee various scenarios for the situation development, from pessimistic to optimistic ones. However political efforts of the leading EU countries, primarily Germany, France, and the Netherlands are required.

Putting European Monetary Integration into a Historical Perspective: Two Decades of the European Monetary System versus Two Decades of the European Monetary Union

2019 ◽  
Vol 239 (5-6) ◽  
pp. 769-795
Author(s):  
Ralf Fendel ◽  
Michael Frenkel
Keyword(s):  
Monetary Union ◽  
European Monetary Union ◽  
European Monetary System ◽  
Monetary Integration ◽  
Macroeconomic Performance ◽  
European Monetary ◽  
Monetary System ◽  
System Versus ◽  
Macroeconomic Indicators ◽  
Economic Developments

AbstractThis comparative study looks at broad economic developments during the 20 years of the European Monetary Union (EMU) and 20 years of the European Monetary System (EMS). We analyze the economic performance by looking at a set of macroeconomic variables. The analysis of macroeconomic performance includes two perspectives: one is internal, i. e. how did the countries perform relative to each other; the other is external, i. e. how did the group of member countries perform vis-à-vis other countries. Overall, the analysis of the two periods suggest that the EMU does not display a macroeconomic development inferior to the EMS period. On the contrary, some crucial macroeconomic indicators point to a greater stability during the EMU period compared to the EMS period.

scholarly journals The Franco-German Alliance and Its Role in the Process of European Monetary Integration, 1944-2010 - Lessons for Today

2016 ◽  
Vol 11 (2) ◽  
pp. 119-135
Author(s):  
Dimitrios Syrrakos
Keyword(s):  
Economic Integration ◽  
Debt Crisis ◽  
European Monetary System ◽  
Monetary Integration ◽  
The European Union ◽  
European Monetary ◽  
Underlying Assumption ◽  
Monetary System ◽  
Close Relationship ◽  
The Creation

The aim of this paper is to assess the evolution of the Franco-German alliance and the likely directions in its development. In particular, the question of whether the two countries' close relationship would survive the current economic and political obstacles is addressed. Emphasis is, placed on the way the alliance facilitated the creation of European Monetary Union. Therefore, the signing of the Treaty of Rome, the establishment of the European Monetary System, the creation of the Single European Act and the Maastricht Treaty are evaluated within this perspective. An underlying assumption throughout the analysis is that the prospects of the alliance and EMU will proceed in tandem. If the alliance continues to evolve successfully then the process of European economic integration will also progress, whereas if the two countries relations increasingly attenuate then the process of economic integration would at best stagnate. The main conclusion is that, following the Eurozone debt crisis the Franco-German alliance has been, replaced by "German Hegemony". This has rendered the main driving force of the European Union ineffective and as such has undermined the evolution of its institutions.

The Euro under Scrutiny: Histories and Theories of European Monetary Integration

2001 ◽  
Vol 10 (2) ◽  
pp. 333-341 ◽  
Author(s):  
Hubert Zimmermann
Keyword(s):  
Market Integration ◽  
Domestic Politics ◽  
European Monetary System ◽  
Monetary Integration ◽  
The European Union ◽  
European Monetary ◽  
James I ◽  
Oxford University ◽  
Monetary System ◽  
Oxford University Press

Kenneth Dyson, The Politics of the Euro-Zone. Stability or Breakdown? (Oxford: Oxford University Press, 2000), 311 pp., ISBN 0-199-24164-3. Kenneth Dyson and Kevin Featherstone, The Road to Maastricht. Negotiating Economic and Monetary Union (Oxford: Oxford University Press, 1999), 860 pp., ISBN 0-198-28077-7. Peter Henning Loedel, Deutsche Mark Politics: Germany in the European Monetary System (London: Lynne Rienner, 2000), 264 pp., ISBN 1-555-87835-0. Kathleen R. McNamara, The Currency of Ideas: Monetary Politics in the European Union, (Ithaca: Cornell University Press, 1998), 200 pp., ISBN 0-801-43432-7. James I. Walsh, European Monetary Integration and Domestic Politics. Britain, France, and Italy (London: Lynne Rienner, 2000), 182 pp., ISBN 1-555-87823-7. Amy Verdun, European Responses to Globalisation and Financial Market Integration (London: Macmillan, 2000), 260 pp., ISBN 0-333-71708-2.

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