Eurozone: the high cost of complacency

Eloi Laurent (1)

1 OFCE - Observatoire français des conjonctures économiques (Sciences Po)

As the Eurozone is celebrating its first decade of existence this January 2009, a paradox strikes the observer. Caught by the "Icelandic fever," Eastern and even Northern small open EU economies are rushing to adopt the Euro. Yet, the region finds itself in deep recession for the first time since its creation. So the Euro is attractive, but the Eurozone is inert. How to make sense of this seeming contradiction? (...).

Domaines: Economies et finances

Eloi Laurent. Eurozone: the high cost of complacency. The Economists' Voice, 2009, pp.1-4. ⟨hal-01022609⟩