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The Euro and the Nation-State That Never Disappeared: Would Europe Benefit from the Return of National Currencies?

Andersson, Fredrik N G LU (2020) p.165-189
Abstract
This chapter discusses the current problems and future prospects of the euro area. The author argues that the problem for the euro area is not the return of the nation-state, but that the nation-states never disappeared. A common currency requires common economic policies, which is largely lacking in the euro area. As a result, large economic and social imbalances have emerged. The chapter examines proposals from the European Commission to increase the level of co-operation to reduce the imbalances. He finds the proposals backward-looking and insufficient. Towards the end of the chapter, the author explores possibility of some countries leaving the euro area. He finds that a friendly divorce is costly in the short term, but likely needed... (More)
This chapter discusses the current problems and future prospects of the euro area. The author argues that the problem for the euro area is not the return of the nation-state, but that the nation-states never disappeared. A common currency requires common economic policies, which is largely lacking in the euro area. As a result, large economic and social imbalances have emerged. The chapter examines proposals from the European Commission to increase the level of co-operation to reduce the imbalances. He finds the proposals backward-looking and insufficient. Towards the end of the chapter, the author explores possibility of some countries leaving the euro area. He finds that a friendly divorce is costly in the short term, but likely needed to restore economic balance in the long run. According to the author, a smaller euro area may mean more European co-operation down the line. (Less)
Please use this url to cite or link to this publication:
author
organization
publishing date
type
Chapter in Book/Report/Conference proceeding
publication status
published
subject
keywords
euro, penningpolitik, euroområdet, Europa, ekonomisk politk
host publication
The European Union and the Return of the Nation State
editor
Bakardjieva Engelbrekt, Antonina ; Leijon, Karin ; Michalski, Anna and Oxelheim, Lars
pages
34 pages
publisher
Palgrave Macmillan
external identifiers
  • scopus:85084494061
ISBN
978-3-030-35004-8
DOI
10.1007/978-3-030-35005-5_7
language
English
LU publication?
yes
id
66f0ed2f-9b49-45b8-931d-4fcc33fc7d6f
date added to LUP
2020-01-22 13:41:56
date last changed
2022-04-18 20:15:44
@inbook{66f0ed2f-9b49-45b8-931d-4fcc33fc7d6f,
  abstract     = {{This chapter discusses the current problems and future prospects of the euro area. The author argues that the problem for the euro area is not the return of the nation-state, but that the nation-states never disappeared. A common currency requires common economic policies, which is largely lacking in the euro area. As a result, large economic and social imbalances have emerged. The chapter examines proposals from the European Commission to increase the level of co-operation to reduce the imbalances. He finds the proposals backward-looking and insufficient. Towards the end of the chapter, the author explores possibility of some countries leaving the euro area. He finds that a friendly divorce is costly in the short term, but likely needed to restore economic balance in the long run. According to the author, a smaller euro area may mean more European co-operation down the line.}},
  author       = {{Andersson, Fredrik N G}},
  booktitle    = {{The European Union and the Return of the Nation State}},
  editor       = {{Bakardjieva Engelbrekt, Antonina and Leijon, Karin and Michalski, Anna and Oxelheim, Lars}},
  isbn         = {{978-3-030-35004-8}},
  keywords     = {{euro; penningpolitik; euroområdet; Europa; ekonomisk politk}},
  language     = {{eng}},
  month        = {{01}},
  pages        = {{165--189}},
  publisher    = {{Palgrave Macmillan}},
  title        = {{The Euro and the Nation-State That Never Disappeared: Would Europe Benefit from the Return of National Currencies?}},
  url          = {{http://dx.doi.org/10.1007/978-3-030-35005-5_7}},
  doi          = {{10.1007/978-3-030-35005-5_7}},
  year         = {{2020}},
}