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What does the 1930s’ experience tell us about the future of the Eurozone?
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Crafts, N. F. R. (2013) What does the 1930s’ experience tell us about the future of the Eurozone? Working Paper. Coventry, UK: Department of Economics, University of Warwick. CAGE Online Working Paper Series, Volume 2013 (Number 142).
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Text (Working paper)
WRAP_142-2013_crafts.pdf - Published Version Download (891Kb) | Preview |
Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...
Abstract
If the Eurozone follows the precedent of the 1930s, it will not survive. The attractions of escaping
from the gold standard then were massive and they point to a strategy of devalue and default for
today’s crisis countries. A fully-federal Europe with a banking union and a fiscal union is the best
solution to this problem but is politically infeasible. However, it may be possible to underpin the
Euro by a ‘Bretton-Woods compromise’ that accepts a retreat from some aspects of deep economic
integration since exit entails new risks of financial crisis that were not present eighty years ago.
Item Type: | Working or Discussion Paper (Working Paper) | ||||
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Alternative Title: | |||||
Subjects: | H Social Sciences > HB Economic Theory | ||||
Divisions: | Faculty of Social Sciences > Economics | ||||
Library of Congress Subject Headings (LCSH): | Eurozone , Monetary unions -- European Union countries, Gold standard -- European Union countries, Depressions -- 1929, European Union countries -- Politics and government -- 21st century | ||||
Series Name: | CAGE Online Working Paper Series | ||||
Publisher: | Department of Economics, University of Warwick | ||||
Place of Publication: | Coventry, UK | ||||
Official Date: | July 2013 | ||||
Dates: |
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Volume: | Volume 2013 | ||||
Number: | Number 142 | ||||
Number of Pages: | 30 | ||||
Institution: | University of Warwick | ||||
Status: | Not Peer Reviewed | ||||
Publication Status: | Published | ||||
Date of first compliant deposit: | 18 August 2016 | ||||
Date of first compliant Open Access: | 18 August 2016 |
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