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What Went Wrong with the Euro?

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The Euro and International Financial Stability

Part of the book series: Financial and Monetary Policy Studies ((FMPS,volume 37))

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Abstract

The first fact has to do with the “creative accounting” of EU bureaucracy. The creation of the euro zone was largely a political decision in the altar of which they sacrificed actual deficits, actual rates of inflation and public debt as a percentage of GDP. These aggregate indicators are easy to monitor but they are not always transparent to the public. More importantly, as aggregate indicators are only rough measures of the fiscal burden or economic efficiency.

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Notes

  1. 1.

    In that sense the argument of Dellas and Tavlas (2009, p. 23).

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Authors and Affiliations

  1. Department of Economics, Athens University of Economics and Business, 76 Patission Street, 104 34, Athens, Greece

    Efthymios G. Tsionas

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  1. Efthymios G. Tsionas
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Correspondence to Efthymios G. Tsionas .

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Tsionas, E.G. (2014). What Went Wrong with the Euro?. In: The Euro and International Financial Stability. Financial and Monetary Policy Studies, vol 37. Springer, Cham. https://doi.org/10.1007/978-3-319-01171-4_2

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