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.
- Language
-
Englisch
- Bibliographic citation
-
Series: Hannover Economic Papers (HEP) ; No. 640
- Classification
-
Wirtschaft
Monetary Policy
Central Banks and Their Policies
Macroeconomic Issues of Monetary Unions
- Subject
-
Currency speculation
TARGET2
eurozone
Italexit
Dexit
trilemma
- Event
-
Geistige Schöpfung
- (who)
-
Homburg, Stefan
- Event
-
Veröffentlichung
- (who)
-
Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät
- (where)
-
Hannover
- (when)
-
2018
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Homburg, Stefan
- Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät
Time of origin
- 2018
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