The economic crisis in the euro area
Keywords:
economic crises, euro, sovereign debt problemsAbstract
The article proposes an analysis of some European financial markets on the background of the recent crisis, markets that have become very alarmed by the increase of the Euro States' budget deficits and the possible entry of some of them in a situation of not being able to pay rates on debts contracted by the Government. Such imbalances can be avoided in general either by a correct evaluation or by a controlled devaluation of national currencies, or by means of the exchange rates of various currencies. However, in the Euro area, this is not possible due to the very existence of a single currency, a context in which the authors suggest the use of alternative solutions.References
Barber, Tony. “A tent to attend to”. Financial Times, 2010.
Chirimbu, Sebastian, Murariu Ioana, Dorînga Cornelia and Barbu Adina. Incursiune în ... Uniunea Europeană (Foray into ...the European Union), Stef, Iaşi, 2011.
European Central Bank, ECB decides on measures to address severe tensions in financial markets, Comunicat de presă, 2010, http://www.ecb.int/press/ pr/date/2010/ html/pr100510.en.html (accesed 12.10.2011).
European Commission. Decision of the 16 euro area Member States, 7.06.2010.
Eurostat. “Provision of deficit and debt data for 2010”, Newsrelease Euroindicators, 2010.
Flanders, Stephanie, Shares and oil prices surge after EU loan deal, 2010, http://www.bbc.co.uk/news/10104140 (accesed 12.10.2011).
Johnson, Miles. “Spain approves more spending cuts”, Financial Times, 2011.
Pop, Valentina. Obama calls for 'resolute' spending cuts in Spain, 2010, http://euobserver.com/9/30064 (accesed 12.10.2011).
Stearns Jonathan. Euro-Area Ministers Seal Rescue-Fund Deal to Stem Debt Crisis, 2010, http://www.bloomberg.com/news/2010-06-07/european-emergency-rescue-fund-would-sell-bonds-only-after-an-aid-request.html (accesed 12.10.2011).
Downloads
Published
How to Cite
Issue
Section
License
The Annals of Spiru Haret University. Economic Series operates under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, granting authors full copyright of their work without restrictions. This licensing framework ensures that the journal’s content can be shared and adapted non-commercially, provided appropriate credit is given and derivative works are distributed under the same terms.
By adhering to these principles, the journal reaffirms its commitment to promoting high-caliber research and supporting the global exchange of economic knowledge.