Naslov
Challenges of Eurozone Functioning in Terms of Global Economic Crisis

Autori
Kersan-Škabić, Ines

Vrsta, podvrsta i kategorija rada
Poglavlja u knjigama, znanstveni

Knjiga
Toward Global Convergence

Urednik/ci
Božina, Lovre, Gonan Božac, Marli, Krtalić, Sandra

Izdavač
Sveučilište Jurja Dobrile u Puli

Grad
Pula

Godina
2011

Raspon stranica
219-247

ISBN
978-953-7498-46-7

Ključne riječi
Eurozone, global economic crisis, European Stability Mechanism

Sažetak
The research puts forward the assumption that the financial crisis had a strong impact on certain countries of the Eurozone, whereas the causes are not solely of external nature. The financial crisis put a light on the existing long-term problems of noncoordinated supervision, on the one hand, and the arbitrarily behaviour of member states (exaggerated consumption, indebting), on the other. The aim of the paper was to explore the effects of the functioning of the Eurozone during the last decade and the problems of convergence of the member states ; the convergence being the key factor of success of monetary unity. The impact of the financial crisis on the functioning of the Eurozone was especially analysed, with the emphasis on the causes and the methods of solving the crisis in Greece and Ireland. The paper has given a critical comment on the initiatives by which the EU is trying to create a framework for protecting the stability of euro, while at the same time representing a source of help for the countries that find themselves in trouble. Unstable fiscal discipline prompted the EU to deal with constructing a more efficient system of supervision and the paper presented the new mechanisms. It still cannot be said that the EU succeeded in finding the right way of preventing a new crisis and severe indebting of its member states, by its activities in the last two years it has proven that the wish for finding a common solution exists and that it is the interest of the developed EU member states as well as those less developed which could face bankruptcy. On the one hand, the interest lies in maintaining the stability of the common currency, while on the other, the overall development depends on the progress of both the countries in the centre and those in the periphery, on the growing consumption of which the developed countries have based the growth of their financial and, consequently, their real sectors as well.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA