Tabu razpada evro območja – Eurexit Ignorance

Francesco Saraceno's avatarSparse Thoughts of a Gloomy European Economist

I wrote a piece, with my colleague Christophe Blot, on the possible breakup of the Euro. The English version is below; the French one is here.

Spoiler alert: we conclude that anything could go, and that claiming otherwise is not very serious.

What do we know about the end of monetary unions?

The European elections were marked by low turnouts and increasing support for Eurosceptic parties. These two elements reflect a wave of mistrust vis-à-vis European institutions, which can also be seen in confidence surveys and in the increasingly loud debate about a return to national currencies. The controversy over a country leaving the euro zone or even the breakup of the monetary union itself started with the Greek crisis in 2010. It then grew more strident as the euro zone sank into crisis. The issue of leaving the euro is no longer…

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