BazEkon - The Main Library of the Cracow University of Economics

BazEkon home page

Main menu

Author
Dallago Bruno (University of Trento, Italy), Rosefielde Steven (University of North Carolina, USA)
Title
The Strange Fate of Brexit and Grexit and the Eurozone : Integration and Disintegration
Source
Contemporary Economics, 2019, vol. 13, nr 1, s. 99-106, rys., bibliogr. 19 poz.
Keyword
Brexit, Strefa euro
Brexit, Eurozone
Note
JEL Classification: F36, H63, H77, P11
summ.
Abstract
This article addresses an anomaly in the European Union (EU)'s recent evolution. Two years ago, Great Britain's exit from the EU seemed improbable, while Greece's departure appeared to be imminent. The outcome was precisely the reverse. We explain the paradox and examine its ramifications. The principal finding is that Brexit should be less disruptive than initially supposed if the EU responds constructively by filling the gaps in its institutional setup that reduce the system's vulnerability to asymmetric shocks. Greece's decision to remain enhances the prospects for Eurozone reform. (original abstract)
Full text
Show
Bibliography
Show
  1. Brunnermeier, M. (2016a). The Sovereign-Bank Diabolic Loop and ESBies. American Economic Review Papers and Proceedings, 106(5), 508-512.
  2. Brunnermeier, M., Langfield, S., Pagano, M., Reis, R., Nieuwerburgh, S., & Vayanos, D. (2016b). ESBies: Safety in the trachnes. ESBies (Working Paper No. 21). European System Risk Board. Retrieved from https://www.esrb.europa.eu/pub/pdf/wp/esrbwp21.en.pdf
  3. Dallago, B. (2016a). One Currency, two Europe. Singapore: World Scientific Publishing Co.
  4. Dallago, B. (2016b). The Future of European Integration and Brexit: Is Brexit only Brexit? Acta Oeconomica, 66, 111-136.
  5. European Commission. (2017a). Reflection Paper on the Deepening of the Economic and Monetary Union. Brussels: European Commission COM. Retrieved from https://ec.europa.eu/commission/sites/betapolitical/files/reflection-paper-emu_en.pdf
  6. European Commission. (2017b). White Paper on the Future of Europe. Reflections and scenarios for the EU27 by 2025. Brussels: European Commission COM. Retrieved from https://ec.europa.eu/commission/sites/beta-political/files/white_paper_on_the_future_of_europe_en.pdf
  7. European Union. (2017). The Rome Declaration. Declaration of the leaders of 27 member states and of the European Council, the European Parliament and the European Commission. Brussels: European Council. Retrieved from https://www.consilium.europa.eu/en/press/press-releases/2017/03/25/rome-declaration/pdf
  8. Eurostat. (2019, January). Main tables. Available at https://ec.europa.eu/eurostat/web/national-accounts/data/main-tables
  9. Hall, P., & Soskice, D. (2003). Varieties of Capitalism: The Institutional Foundations of Comparative Advantage. Oxford, UK: Oxford University Press.
  10. Hoffmann, I., & de Vries, C. E. (2016). Brexit has raised support for the European Union. Bertelsmann Foundation. Available at https://www.bertelsmann-stiftung.de/en/publications/publication/did/flashlight-europe-022016-brexit-has-raisedsupport-for-the-european-union/
  11. Juncker, J., Turk, D., Dijsselbloem, J., Draghi, M., & Schulz, M. (2015). Completing Europe's Economic and Monetary Union. Brussels: European Commission.
  12. Kuhn, T., Elsas, E., Hakhverdian, A., & Brug, W. (2016). An ever wider gap in an ever closer union: Rising inequalities and euroscepticism in 12 West European democracies, 1975-2009. Socio-Economic Review, 14(1), 27-45.
  13. Poghosyan, T., Eyrud, L., & Gaspar, V. (2017). Fiscal Politics in Euro Area. Washington, DC: International Monetary Fund.
  14. Piekalkiewicz, J. (1995). Politics of Ideocracy, Albany, NY: State University of New York.
  15. Rosefielde, S. (2016). Grexit and Brexit: Rational Choice, Compatibility, and Coercive Adaptation. Acta Oeconomica, 9, 77-91.
  16. Rosefielde, S., & Liu, Y. (2017). Sovereign Debt Crisis: Solidarity and Power. The Journal of Comparative Economic Studies, 12, 101-112.
  17. Rosefielde, S., & Liu, Y. (2018). Local Public Debt Management: Lessons from Greece in Inclusive Economic Perspective. Singapore Economic Review, Forthcoming.
  18. Roukanas, S. & Sklias, P. (Eds.). (2016). The Greek Political Economy 2000-2015. Delft: Eburon Academic Publishers.
  19. Wagstyl, S. (2016). Support for EU grows after Brexit. The Financial Times. Available at https://www.ft.com/content/9cfdad52-ada7-11e6-9cb3-bb8207902122
Cited by
Show
ISSN
2084-0845
Language
eng
URI / DOI
http://dx.doi.org/10.5709/ce.1897-9254.301
Share on Facebook Share on Twitter Share on Google+ Share on Pinterest Share on LinkedIn Wyślij znajomemu