Controversial and novel features of the Eurozone crisis as a balance of payment crisis
Working Paper N. 640
Dipartimento di Economia Politica e Statistica, Università degli Studi di Siena
The European crisis appears as the n-th “this time is different” episode of the financial liberalisation sequence cum fixed exchange rates, capital flows from the centre to the periphery, housing bubble, current account (CA) deficit and indebtedness, default.
European Monetary Union, financial crisis, Germany, neo-mercantilism, Balance of payment, capital flows, sudden stops, TARGET 2, Monetary sovereignty, MMT, Sinn
B11, N14, F1, F33