Currency competition in the Eurozone: an answer to the crisis

• Autorzy: Spirzewski Krzysztof
• Języki publikacji: EN

Abstrakty

EN

The common currency was created as a result of theoreti cal considerati ons regarding the functi oning of opti mum currency areas. This theory refers to a number of benefi ts as well as costs. It imposes a number of requirements that are necessary for the newly created structure to be considered opti mum. The economies of Eurozone countries did not meet these requirements. In consequence, the present functi oning of the Eurozone encounters many disturbances – the strong differentiation of the balance of payments is a signifi cant example. The reforms initi ated in the European Union and undertaken in response to the fi nancial crisis encompassed the Eurozone countries, yet they only concern fi nancial policy. The adopted strategy of action arouses questions as to its effectiveness. The aim of this arti cle is to present one of the reasons for the Eurozone crisis and a proposal for changing the monetary policy, in particular the exchange rate. In view of this objecti ve, the main hypothesis reads as follows: one of the methods of counteracting the crisis is to introduce currency competition within the Eurozone.

Słowa kluczowe

EN

European Union; Currency Competi ti on; Financial Crisis

• Wydawca: Wyższa Szkoła Informatyki i Zarządzania z siedzibą w Rzeszowie
• Czasopismo: Finansowy Kwartalnik Internetowy e-Finanse
• Rocznik: 2016
• Tom: 12
• Numer: 1
• Strony: 12-20

Daty

wydano

2016-07-20

Twórcy

autor

Spirzewski Krzysztof

• University of Warsaw WNE,