Abstract
Under pressure from the markets partial solutions are currently being found for the euro zone crisis. Recent financial turmoil, linked to the delay in setting up the EFSF and the persistence of contagion towards “heavyweights” in the zone, are emblematic of this tension between political time, subject to democratic rule, and the short time spans of the markets.
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References
SEBC monetary policy working group (2005) “Competitiveness and the export performance of the euro area”, study n∘ 30 in the ECB studies series.
Eggertson and Pugsley, “The mistake of 1937: a general equilibrium analysis”, Bank of Japan Monetary and Economic Studies, 2006. The process of budgetary consolidation begun by the federal American government and the FED’s policy to combat inflation plunged the United States into another recession.
On this subject see the recent COE-Rexecode report, directed by M. Didier and G. Koléda: Compétitivité France Allemagne: Le grand écart, Paris, Economica, 2011, 135 p.
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De Boissieu, C., Passet, O. (2012). The Euro, Markets and Politics. In: Schuman Report on Europe. Springer, Paris. https://doi.org/10.1007/978-2-8178-0319-7_6
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DOI: https://doi.org/10.1007/978-2-8178-0319-7_6
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