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The Eurozone Crisis: Current Account Imbalances, Budget Deficits and National Debt

  • Mark Baimbridge
  • Ioannis Litsios
  • Karen Jackson
  • Uih Ran Lee
Chapter

Abstract

In order to understand the deeper causes of the ongoing eurozone crisis it is essential to identify a number of factors that collectively impacted the eurozone’s design and undermined the path towards its anticipated success. These factors reflect both economic and structural differences between core and periphery blocks of countries that could be interpreted as internal or intra-zone factors as well as external factors that hugely affected the eurozone’s economic performance. It is therefore important to analyse the eurozone’s policy framework and initially identify how the eurozone performed until 2007 when the global financial crisis hit and how the system subsequently reacted to this external shock. This will reveal the internal flaws of the system that left the eurozone vulnerable to the global economic and financial upheaval and identify possible solutions in order to rescue the eurozone project.

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Copyright information

© The Editor(s) (if applicable) and The Author(s) 2017, corrected publication March 2018. 2017

Authors and Affiliations

  • Mark Baimbridge
    • 1
  • Ioannis Litsios
    • 2
  • Karen Jackson
    • 3
  • Uih Ran Lee
    • 4
  1. 1.School of Management University of BradfordBradfordUK
  2. 2.Plymouth Business School University of PlymouthPlymouthUK
  3. 3.Westminster Business School University of WestminsterLondonUK
  4. 4.Department of Economics and Related StudiesUniversity of YorkYorkUK

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