Eurozone is going though the worst ever crises since the adoption of the common currency in 1999. In the aftermath of financial crises of 2007, many EU government due to their own fragile banking system and imbalance economic structures persued a debt-spending financing which resulted into a...

Contrasting with the 1929 great crisis, authorities intervened forcefully in 2008 to stop the disintegration of the financial system. Governments and central banks then sought to revise the prudential regulation in depth. It would be optimistic, however, to believe that prudential measures,...

This paper explores the impact of Europe's existing institutional framework on the degree of macroeconomic disparity in the Eurozone. It draws son analysis of the costs of this framework as well as of the benefits of European economic and monetary unification. It also highlights how these costs...