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2015Keyword
EurozoneEuro crisis
Economic decline
Financial crisis
Currency union
Current account surpluses
Euro Public finances
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© 2015 The Author(s). This is an Open Access article distributed under the Creative Commons CC-BY license (http://creativecommons.org/licenses/by/4.0/)Peer-Reviewed
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The global economy has experienced considerable turbulence since 2007. The financial crisis has been viewed as the trigger for a prolonged period of economic decline. This decline remains an issue for all member states of the European Union, the eurozone and beyond. We argue genesis of this crisis lies in the integration negotiations of 1991, ratified in 1992. These produced a flawed economic model within the eurozone. Given the seeds of decay were planted at origin; we argue the solution can be found through a reconstructed eurozone via looser integration, where countries less equipped to deal with the realities of closer integration will be economically independent.Version
Published versionCitation
McIntosh B and Ferretti F (2015) Pandora box: The eurozone and the euro crisis. Cogent Economics and Finance. 3.Link to Version of Record
https://doi.org/10.1080/23322039.2015.1092860Type
Articleae974a485f413a2113503eed53cd6c53
https://doi.org/10.1080/23322039.2015.1092860