Abstract
In previous chapters, the limitations inherent within the current eurozone economic framework have been highlighted. These include: design flaws in the methods to assess initial convergence; the lack of fiscal federalism to moderate inevitable asymmetric shocks to the currency union; and, more recently, a slow recognition of the problems caused by the international financial crisis and its fiscal after-effects, together with a presently inadequate policy response.
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© 2015 Mark Baimbridge and Philip B. Whyman
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Baimbridge, M., Whyman, P.B. (2015). European Clearing Union. In: Crisis in the Eurozone. Palgrave Macmillan, London. https://doi.org/10.1057/9781137329035_11
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DOI: https://doi.org/10.1057/9781137329035_11
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-46049-6
Online ISBN: 978-1-137-32903-5
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