Bordo, M. and James, H., (2013), “The European crisis in the context of historical trilemmas”, VoxEU, 19 Οκτωβρίου.
The Eurozone’s tangle of conflicting goals – a series of ‘trilemmas’ – is not without precedent. This column argues that it is reminiscent of the interwar situation. The interwar slump was so intractable not just due to financial issues, but also a crisis of democracy, of social stability, and of the international political system. The big difference in the EZ is that nations cannot go off the euro as they went off the gold standard. That is why the initial EZ crisis may not have been so acute as some of the gold standard sudden stops, but the recovery or bounce back is painfully slow and protracted.
Σχετικές Αναρτήσεις
- Bennhold, Katrin, (2012), “What History Can Explain About Greek Crisis”, The New York Times, 6 Ιουνίου.
- Scenario Team Eurozone 2020, (2013), “Future Scenarios for the Eurozone: 15 Perspectives on the Euro Crisis”, Friedrich Ebert Stiftung, Μάρτιος.
- Jordà,O., Schularick, M. and Taylor, A., (2013), “Sovereigns versus banks: Crises, causes and consequences”, VoxEU, 18 Οκτωβρίου.