Detailed Information on Publication Record
2015
Francouzsko - Německé monetární vztahy - pnutí v základech Eurozóny
HODULÁK, Vladan and Oldřich KRPECBasic information
Original name
Francouzsko - Německé monetární vztahy - pnutí v základech Eurozóny
Name (in English)
Franco-German Monetary Relations - Tensions Built into the Eurozone Core
Authors
HODULÁK, Vladan (203 Czech Republic, belonging to the institution) and Oldřich KRPEC (203 Czech Republic, belonging to the institution)
Edition
Politická ekonomie, Vysoká škola ekonomická v Praze, 2015, 0032-3233
Other information
Language
Czech
Type of outcome
Článek v odborném periodiku
Field of Study
50601 Political science
Country of publisher
Czech Republic
Confidentiality degree
není předmětem státního či obchodního tajemství
References:
Impact factor
Impact factor: 0.904
RIV identification code
RIV/00216224:14230/15:00083653
Organization unit
Faculty of Social Studies
UT WoS
000361079700001
Keywords in English
France; Germany; monetary policy; Eurozone; monetary integration
Změněno: 2/5/2016 16:04, Ing. Alena Raisová
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 insuffi cient regulation of the fi nancial sector (banking union) nor in fi scal irresponsibility of the European governments (fi scal compact). The eurozone technically has unlimited fi nancial resources at its disposal to solve its recent fi nancial 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 infl uence the institutional arrangement of the Economic and Monetary Union. However, the essence of the Franco-German confl ict 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.
In English
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 insuffi cient regulation of the fi nancial sector (banking union) nor in fi scal irresponsibility of the European governments (fi scal compact). The eurozone technically has unlimited fi nancial resources at its disposal to solve its recent fi nancial 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 infl uence the institutional arrangement of the Economic and Monetary Union. However, the essence of the Franco-German confl ict 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.
Links
| EE2.3.30.0009, research and development project |
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