Bericht
The Baltic challenge and Euro-area entry
Resident Fellow Zsolt Darvas takes a look at the issue of the Baltic states - Estonia, Latvia and Lithuania - and the challenges facing those three countries in the aftermath of the financial crisis. He argues that because it is in the broader European interest to prevent a collapse in the Baltics, the best option is immediate euro entry at a suitable exchange rate supported by appropriate resolution in order to manage the resulting debt overhang. However, there seems to be no legal basis for this under the current euro accession criteria. Furthermore, the economic foundations of the criteria are fundamentally flawed, as euro-area members continue to violate the criteria while the EU's expansion to 27 members has made the criteria tougher for new member states to meet themselves. Ultimately, the European Council has the ability to reform the criteria without a formal treaty change. The Council should do so, the author argues, and allow for more meaningful benchmarks for all future euro-area applicants.
- Sprache
-
Englisch
- Erschienen in
-
Series: Bruegel Policy Contribution ; No. 2009/13
- Klassifikation
-
Wirtschaft
- Thema
-
Europäische Wirtschafts- und Währungsunion
Eurozone
Wirtschaftslage
Wirtschaftspolitik
Geldpolitik
Leistungsbilanz
Zahlungsbilanzungleichgewicht
Estland
Lettland
Litauen
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Darvas, Zsolt
- Ereignis
-
Veröffentlichung
- (wer)
-
Bruegel
- (wo)
-
Brussels
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Bericht
Beteiligte
- Darvas, Zsolt
- Bruegel
Entstanden
- 2009
Ähnliche Objekte (12)
Europe's clean technology investment challenge
Entry and competition in mobile app stores
Arithmetic is absolute: Euro-area adjustment
The Euro area's macroeconomic balancing act
Oberpolizeiliche Vorschriften vom 7. April 1897 über die Fleischbeschau für den Regierungsbezirk Mittelfranken
The challenge of China’s rise as a science and technology powerhouse
The governance and ownership of significant euro-area banks
Challenges for the Euro area and implications for Latvia
Crisis management for euro-area banks in central Europe
Sovereign debt and its restructuring framework in the euro area
Forecast errors and monetary policy normalisation in the euro area
Euro-area governance: what went wrong? How to repair it?
Europe's clean technology investment challenge
Entry and competition in mobile app stores
Arithmetic is absolute: Euro-area adjustment
The Euro area's macroeconomic balancing act
Oberpolizeiliche Vorschriften vom 7. April 1897 über die Fleischbeschau für den Regierungsbezirk Mittelfranken
The challenge of China’s rise as a science and technology powerhouse
The governance and ownership of significant euro-area banks
Challenges for the Euro area and implications for Latvia
Crisis management for euro-area banks in central Europe
Sovereign debt and its restructuring framework in the euro area
Forecast errors and monetary policy normalisation in the euro area
Euro-area governance: what went wrong? How to repair it?
Europe's clean technology investment challenge
Entry and competition in mobile app stores
Arithmetic is absolute: Euro-area adjustment
The Euro area's macroeconomic balancing act
Oberpolizeiliche Vorschriften vom 7. April 1897 über die Fleischbeschau für den Regierungsbezirk Mittelfranken
The challenge of China’s rise as a science and technology powerhouse
The governance and ownership of significant euro-area banks
Challenges for the Euro area and implications for Latvia
Crisis management for euro-area banks in central Europe
Sovereign debt and its restructuring framework in the euro area
Forecast errors and monetary policy normalisation in the euro area