El euro, las dos caras de una moneda

  1. Eduardo Cuenca García
  2. Margarita Navarro Pabsdorf 1
  1. 1 Universidad de Granada
    info

    Universidad de Granada

    Granada, España

    ROR https://ror.org/04njjy449

Journal:
Economistas

ISSN: 0212-4386

Year of publication: 2023

Issue: 180

Pages: 32-41

Type: Article

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Abstract

After twenty years in circulation, the euro offers us a broad perspective on the strengths and weaknesses of this ambitious project launched by the European Union. We cannot assert that everything has been done well or that the design of the system on which it was based was perfect, but there is clear evidence that the single currency has overcome very difficult periods, reacting speedily and with solidarity to the crises that have arisen along its history. The euro without a stability mechanism, neither a banking union nor a fiscal union, brought about noteworthy imbalances between the Member States, subjecting them to budgetary discipline and impacting their economic convergence. However, as the problems showed up, changes were introduced strengthening the euro´s foundations and repairing cracks that have been appearing in its structure. The recent crises would have been much more serious without the euro and the mechanisms it has today, tools that allow it to be managed in a coordinated and solidary manner.

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Data source: Dialnet