Economics, Econometrics and Finance
8 years ago

Eurozone crisis reveals need for fiscal union to ensure sustainability

Rivista economica del Mezzogiorno
Single currency and supranational constraints to fiscal policies in the Eurozone during the crisis
Carmelo Petraglia, Francesco Purificato

Paper Summary

The Eurozone faced a crisis due to high debts and slow reforms in some countries. Austerity measures caused more harm than expected. The core and periphery of the Union have real imbalances causing the crisis. To fix this, a fiscal union is needed for sustainability.

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