Arbeitspapier
Speculative eurozone attacks and departure strategies
This paper shows that the eurozone payment system does not effectively protect member states from speculative attacks. Suspicion of a departure from the common currency induces a terminal outflow of central bank money in weaker member states. TARGET2 cannot inhibit this drain but only protects central bank assets. Evidence presented here suggests that a run on Italy is already on the way. The paper also considers departure strategies of strong and weak member states and the distributive effects of an orderly eurozone dissolution.
- Sprache
-
Englisch
- Erschienen in
-
Series: Hannover Economic Papers (HEP) ; No. 640
- Klassifikation
-
Wirtschaft
Monetary Policy
Central Banks and Their Policies
Macroeconomic Issues of Monetary Unions
- Thema
-
Currency speculation
TARGET2
eurozone
Italexit
Dexit
trilemma
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Homburg, Stefan
- Ereignis
-
Veröffentlichung
- (wer)
-
Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät
- (wo)
-
Hannover
- (wann)
-
2018
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Homburg, Stefan
- Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät
Entstanden
- 2018
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