Open AccessThe European Crisis Without End: The Consequences of European Monetary Integration
Author(s) -
Haytham Yousef Ewaida
Publication year - 2016
Publication title -
international journal of business and social research
Language(s) - English
Resource type - Journals
eISSN - 2164-2559
pISSN - 2164-2540
DOI - 10.18533/ijbsr.v6i8.965
Subject(s) - convergence (economics) , european debt crisis , financial crisis , economics , mechanism (biology) , international economics , financial integration , debt , sovereign debt , sovereignty , financial system , economic policy , business , european integration , european union , finance , macroeconomics , political science , financial market , philosophy , epistemology , politics , law
This study tackles the Euro-Zone sovereign debts through recognizing the crisis origins, reasons, and the stages it has gone through to decide on its financial and economic effects and the approaches to deal with these effects. The study concludes that there is a real crisis at the European monetary system mechanism besides a lack of any implementable mechanism regarding growth and convergence among the Euro-Zone countries. Add to that the absence of a united financial policy for these countries. The study has approached some recommendations among which: the necessity to expedite the adoption of a united financial policy for all the Euro-Zone countries, the necessity to activate the role of the European Central Bank, the necessity to create mechanisms that can confront any emerging crises in the future.