Monetary Relations of France and Germany – Impact on Eurozone

D 2015

Monetary Relations of France and Germany – Impact on Eurozone

HODULÁK, Vladan a Oldřich KRPEC

Základní údaje

Originální název

Monetary Relations of France and Germany – Impact on Eurozone

Autoři

HODULÁK, Vladan a Oldřich KRPEC

Vydání

Karviná, Proceedings of 12th International Scientific Conference : Economic Policy in the European Union Member Countries, od s. 214-224, 11 s. 2015

Nakladatel

Silesian University in Opava, School of Business Administration in Karviná

Další údaje

Jazyk

angličtina

Typ výsledku

Stať ve sborníku

Obor

50601 Political science

Stát vydavatele

Česká republika

Utajení

není předmětem státního či obchodního tajemství

Forma vydání

tištěná verze "print"

Označené pro přenos do RIV

Ano

Kód RIV

RIV/00216224:14230/15:00101918

Organizační jednotka

Fakulta sociálních studií

ISBN

978-80-7510-114-3

UT WoS

000366004300023

Klíčová slova anglicky

France; Germany; monetary policy; Eurozone; monetary integration

Štítky

rivok

Příznaky

Recenzováno

Změněno: 26. 2. 2019 08:08, Mgr. Blanka Farkašová

Anotace

V originále

This paper discusses the thesis that the main danger for Eurozone survival does not lie in the areas that most economists have focused on; that is, it lies neither in insufficient regulation of the financial sector (banking union) nor in fiscal irresponsibility of the European governments (fiscal compact). The Eurozone technically has unlimited financial resources at its disposal to solve its recent financial problems, but the potential threats are rather of a political origin. The most important challenges are the distinct expectations that the strongest European economies harbored before the foundation of the Eurozone. The French sought to gain more autonomy in the conduct of their domestic economic policy, which had been impeded by external constraints, particularly exacerbated by German monetary policy. The German goal was to prevent permanent upward pressure on their currency, which had been undermining their export-led economic model. These distinct expectations did partly influence the institutional arrangement of the Economic and Monetary Union. However, the essence of the Franco-German conflict has not been adequately addressed and we hold that the Eurozone in its current setting is not able to fully resolve it. That being said, the ECB can employ means that could allow it to postpone the solution for a very long time.

Návaznosti

EE2.3.30.0009, projekt VaV

Název: Zaměstnáním čerstvých absolventů doktorského studia k vědecké excelenci

Citovat

HODULÁK, Vladan a Oldřich KRPEC. Monetary Relations of France and Germany – Impact on Eurozone. In Tvrdoň, Michal a Ingrid Majerová. Proceedings of 12th International Scientific Conference : Economic Policy in the European Union Member Countries. Karviná: Silesian University in Opava, School of Business Administration in Karviná, 2015, s. 214-224. ISBN 978-80-7510-114-3.

@inproceedings{1297269,
   author = {Hodulák, Vladan and Krpec, Oldřich},
   address = {Karviná},
   booktitle = {Proceedings of 12th International Scientific Conference : Economic Policy in the European Union Member Countries},
   editor = {Tvrdoň, Michal a Ingrid Majerová},
   keywords = {France; Germany; monetary policy; Eurozone; monetary integration},
   howpublished = {tištěná verze "print"},
   language = {eng},
   location = {Karviná},
   isbn = {978-80-7510-114-3},
   pages = {214-224},
   publisher = {Silesian University in Opava, School of Business Administration in Karviná},
   title = {Monetary Relations of France and Germany – Impact on Eurozone},
   year = {2015}
}

TY  - CONF
ID  - 1297269
AU  - Hodulák, Vladan - Krpec, Oldřich
PY  - 2015
TI  - Monetary Relations of France and Germany – Impact on Eurozone
PB  - Silesian University in Opava, School of Business Administration in Karviná
CY  - Karviná
SN  - 9788075101143
KW  - France
KW  - Germany
KW  - monetary policy
KW  - Eurozone
KW  - monetary integration
N2  - This paper discusses the thesis that the main danger for Eurozone survival does not lie in the areas that most economists have focused on; that is, it lies neither in insufficient regulation of the financial sector (banking union) nor in fiscal irresponsibility of the European governments (fiscal compact). The Eurozone technically has unlimited financial resources at its disposal to solve its recent financial problems, but the potential threats are rather of a political origin. The most important challenges are the distinct expectations that the strongest European economies harbored before the foundation of the Eurozone. The French sought to gain more autonomy in the conduct of their domestic economic policy, which had been impeded by external constraints, particularly exacerbated by German monetary policy. The German goal was to prevent permanent upward pressure on their currency, which had been undermining their export-led economic model. These distinct expectations did partly influence the institutional arrangement of the Economic and Monetary Union. However, the essence of the Franco-German conflict has not been adequately addressed and we hold that the Eurozone in its current setting is not able to fully resolve it. That being said, the ECB can employ means that could allow it to postpone the solution for a very long time.
ER  -

HODULÁK, Vladan a Oldřich KRPEC. Monetary Relations of France and Germany – Impact on Eurozone. In Tvrdoň, Michal a Ingrid Majerová. \textit{Proceedings of 12th International Scientific Conference : Economic Policy in the European Union Member Countries}. Karviná: Silesian University in Opava, School of Business Administration in Karviná, 2015, s.~214-224. ISBN~978-80-7510-114-3.

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