Impact of global financial crisis on the internal imbalances in the euro area Cover Image

Wpływ globalnego kryzysu finansowego na nierównowagi wewnętrzne w strefie euro
Impact of global financial crisis on the internal imbalances in the euro area

Author(s): Michał Zaremba
Subject(s): Economy, National Economy, Supranational / Global Economy, Public Finances
Published by: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Keywords: European Union; economic imbalance; economic policy

Summary/Abstract: Monetary integration in the European Union is one of the most interesting processes taking place in the global economy. The euro zone, originally aimed at stabilizing and ensuring balanced growth and development of the participating countries, despite the initial success, proved to have significant drawbacks. The aim of the article is to analyze the economic problems of the euro zone as a consequence of the existing and deepening imbalances within the euro area. The article briefly presents the financial crisis of 2008 and later causes of the problems that emerged during the crisis in the Member States, as well as in their mutual relations. The study has been based on the literature and analysis of macroeconomic indicators, available in the databases of the International Monetary Fund. The analysis shows the low coherence of the entire zone. The biggest threat for the continued functioning of the monetary union is a diversity of debt and different levels of competitiveness in individual countries.

  • Issue Year: 2016
  • Issue No: 439
  • Page Range: 384-392
  • Page Count: 9
  • Language: Polish