Centre for Development Economics
Department of Economics, Delhi School of Economics


Where does the Euro stand 10 years after the Global Financial Crisis of 2008?


Matthias Morys 
University of York


8th February 2018 (Thursday) at 3:00 PM

Venue : Seminar Room (First Floor)
Department of Economics, Delhi School of Economics

All are cordially invited

India has reduced substantially the use of cash payments since late 2016; a bold monetary reform that is being widely discussed among economists worldwide. Europe embarked on an even more audacious reform some 20 years ago by launching the Euro, the common currency currently shared by 19 out of 28 European Union member states. Yet the Euro ran into serious problems in the wake of the Global Financial Crisis of 2008 and almost unraveled in the face of government debt and banking crises. Countries such as Greece, Ireland, Portugal, Cyprus, and Spain subsequently had to undergo painful IMF structural adjustment programmes typically applied only to emerging economies. In combination with the highly expansionary monetary policy by the European Central Bank and wide-ranging reforms to Eurozone governance, the crisis was eventually contained. Yet economic recovery has been highly uneven among member states and many problems facing the euro area remain unresolved. We ask where the European Monetary Union stands 10 years after the Global Financial Crisis and what needs to be done to make a full success out of it. In our presentation, we will pay specific attention to academic and policy-making contributions by the faculty of the University of York Economics Department on this topic.

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