Arbeitspapier
Lessons of the European crisis for regional monetary and financial integration in East Asia
The debt crisis in several member states of the euro area has raised doubts on the viability of European Economic and Monetary Union (EMU) and the future of the euro. While the launch of the euro in 1999 stirred a lot of interest in regional monetary integration and even monetary unification in various parts of the world, including East Asia, the current crisis has had the opposite effect, even raising expectations of a breakup of the euro area. Indeed, the crisis has highlighted the problems and tensions that will inevitably arise within a monetary union when imbalances build up and become unsustainable. This note discusses the causes of the current European crisis and the challenges that EMU countries face in solving it. Based on this analysis, it derives five lessons for regional financial and monetary cooperation and integration in East Asia.
- Sprache
-
Englisch
- Erschienen in
-
Series: ADBI Working Paper ; No. 347
- Klassifikation
-
Wirtschaft
Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
International Monetary Arrangements and Institutions
Financial Aspects of Economic Integration
Financial Crises
- Thema
-
european crisis
euro area
european monetary union
financial integration
east asia
Eurozone
Haushaltsdefizit
Schuldenübernahme
Staatsbankrott
Eurozone
Vergleich
Finanzmarktregulierung
Währungsunion
Ostasien
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Volz, Ulrich
- Ereignis
-
Veröffentlichung
- (wer)
-
Asian Development Bank Institute (ADBI)
- (wo)
-
Tokyo
- (wann)
-
2012
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Volz, Ulrich
- Asian Development Bank Institute (ADBI)
Entstanden
- 2012
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