Link to the University of Pittsburgh
Link to the University Library SystemContact us link
AEI Banner

The Eurozone Crisis. Jean Monnet/Robert Schuman Paper Vol. 12, No. 3, February 2012

Nicholson, Emma (2012) The Eurozone Crisis. Jean Monnet/Robert Schuman Paper Vol. 12, No. 3, February 2012. [Working Paper]

[img]
Preview
Other - Published Version
Download (456Kb) | Preview

    Abstract

    The European monetary union was developed and implemented initially with the future objective of a fiscal union, then ultimately a political union. However the current European sovereign debt crisis has highlighted the importance of initially having the framework and gradual implementation of a fiscal union far sooner than is currently being discussed. To put this into context, the 17 member Eurozone was established on 1st January 1999 and on 1st January 2002; all member currencies were replaced with the Euro. In 2007, a year prior to the financial crisis, Jean-Claude Trichet, then president of the European Central Bank (ECB) proposed a fiscal union of Eurozone countries. On January 30th 2012, after the financial crisis, credit crisis and European sovereign debt crisis, 25 of the 27 EU member states signed the fiscal compact treaty on stability, coordination and governance in Economic and Monetary Union. This is after 10 years of the formal implementation of the European Monetary Union.

    Export/Citation:EndNote | BibTeX | Dublin Core | ASCII (Chicago style) | HTML Citation | OpenURL
    Social Networking:
    Item Type: Working Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on and consequences/reforms
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > University of Miami, Florida-EU Center of Excellence > Jean Monnet/Robert Schuman Paper Series
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 23 Feb 2012 09:34
    Number of Pages: 6
    Last Modified: 23 Feb 2012 09:34
    URI: http://aei.pitt.edu/id/eprint/33637

    Actions (login required)

    View Item

    Document Downloads