SUSTAINABILITY OF EUROPEAN ECONOMIC AND MONETARY UNION IN THE LIGHT OF EUROZONE SOVEREIGN DEBT CRISIS

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dc.contributor.authorBayar, Yilmaz
dc.date.accessioned2024-09-29T16:10:18Z
dc.date.available2024-09-29T16:10:18Z
dc.date.issued2013
dc.departmentKarabük Üniversitesien_US
dc.description10th International Scientific Conference on Economic Policy in the European Union Member Countries -- SEP 19-21, 2012 -- Vendryne, CZECH REPUBLICen_US
dc.description.abstractBursting of speculative bubble in US housing market at the end of 2006 firstly caused subprime crisis in US at the end of 2007 and then led to global financial crisis as of 2008. Fiscal stimulus packages, nationalization of banks and private debt to alleviate the negative effects global financial crisis over economy together with decreases in tax revenues led to European sovereign debt crisis by increasing sovereign debt in some Eurozone countries which already have had a significant amount of outstanding debt and current account deficits because of their savings gap and non-competitive economic structures. The debt crisis firstly emerged in Greece in October 2009 and then spread to Ireland, Portugal, Spain, Italy in 2 years. The deficiencies and weaknesses in EU organization (especially EMU and surveillance structures), which caused problems in coordination of economic policies and external imbalances, contributed to emergence and rapid spread of sovereign debt crisis. This study examines the role of European Economic and Monetary Union on the sovereign debt crisis and costs and benefits of EMU in the integration process and forecasts the future of EMU in the light of Eurozone sovereign debt crisis.en_US
dc.description.sponsorshipMoravian Silesian Region,Silesian Univ Opava, Dept Econom,Silesian Univ Opava, Sch Business Adm,VSB Techn Univ Ostrava, Dept Natl Economy,VSB Techn Univ Ostrava, Fac Economen_US
dc.identifier.endpage14en_US
dc.identifier.isbn978-80-7248-788-2
dc.identifier.startpage7en_US
dc.identifier.urihttps://hdl.handle.net/20.500.14619/8110
dc.identifier.wosWOS:000317528400001en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.language.isoenen_US
dc.publisherSilesian Univ Opava, School Business Administration Karvinaen_US
dc.relation.ispartofProceedings of the 10th International Scientific Conference: Economic Policy in the European Union Member Countries: Selected Papersen_US
dc.relation.publicationcategoryKonferans Öğesi - Uluslararası - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectmonetary unionen_US
dc.subjectoptimum currency areaen_US
dc.subjectEurozone sovereign debt crisisen_US
dc.titleSUSTAINABILITY OF EUROPEAN ECONOMIC AND MONETARY UNION IN THE LIGHT OF EUROZONE SOVEREIGN DEBT CRISISen_US
dc.typeConference Objecten_US

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