Monetary Relations of France and Germany – Impact on Eurozone

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14230%2F15%3A00101918" target="_blank" >RIV/00216224:14230/15:00101918 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Monetary Relations of France and Germany – Impact on Eurozone

Original language description

This paper discusses the thesis that the main danger for Eurozone survival does not lie in the areas that most economists have focused on; that is, it lies neither in insufficient regulation of the financial sector (banking union) nor in fiscal irresponsibility of the European governments (fiscal compact). The Eurozone technically has unlimited financial resources at its disposal to solve its recent financial problems, but the potential threats are rather of a political origin. The most important challenges are the distinct expectations that the strongest European economies harbored before the foundation of the Eurozone. The French sought to gain more autonomy in the conduct of their domestic economic policy, which had been impeded by external constraints, particularly exacerbated by German monetary policy. The German goal was to prevent permanent upward pressure on their currency, which had been undermining their export-led economic model. These distinct expectations did partly influence the institutional arrangement of the Economic and Monetary Union. However, the essence of the Franco-German conflict has not been adequately addressed and we hold that the Eurozone in its current setting is not able to fully resolve it. That being said, the ECB can employ means that could allow it to postpone the solution for a very long time.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

50601 - Political science

Project

<a href="/en/project/EE2.3.30.0009" target="_blank" >EE2.3.30.0009: Employment of Newly Graduated Doctors of Science for Scientific Excellence</a><br>

Continuities

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year

2015

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Proceedings of 12th International Scientific Conference : Economic Policy in the European Union Member Countries

ISBN

9788075101143

ISSN

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e-ISSN

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Number of pages

11

Pages from-to

214-224

Publisher name

Silesian University in Opava, School of Business Administration in Karviná

Place of publication

Karviná

Event location

Ostravice

Event date

Sep 16, 2014

Type of event by nationality

WRD - Celosvětová akce

UT code for WoS article

000366004300023