IMBALANCES AND DEBT CRISIS IN THE EURO AREA

• Authors: Sipko Juraj
• Languages of publication: EN

Abstracts

EN

The main goal of the article is to analyse some critical macro and microeconomic indicators between 1995 and 2012 in EU member states, but in particular, in the Euro Area. By using quantitative and comparative analysis, the paper found that there is a trend of both internal and external imbalances within the single currency area. Both regression and correlation analysis indicated statistically significant relations between the key macro and microeconomic indicators, such as the current account, market share, net international investment position, fiscal deficit and public debt, including imbalances in the TARGET2 system. Based on this, the paper came to the conclusion that put the economies on a sustainable, solid and balanced economic growth path in the euro-zone countries, comprehensive structural reform agenda is needed, adopting and implementing the medium-term fiscal consolidation plans a the creation of banking union would be critical.

Keywords

EN

CURRENT ACCOUNT; FISCAL BALANCE; PUBLIC DEBT; EUROPEAN UNION; MACROECONOMY

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2014
• Volume: 62
• Issue: 3
• Pages: 265 – 284

Contributors

author

Sipko Juraj

• Ekonomický ústav SAV, Šancová 56, 811 05 Bratislava, Slovak Republic