Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/277398 
Year of Publication: 
2017
Citation: 
[Journal:] European Journal of Economics and Economic Policies: Intervention (EJEEP) [ISSN:] 2052-7772 [Volume:] 14 [Issue:] 3 [Year:] 2017 [Pages:] 351-371
Publisher: 
Edward Elgar Publishing, Cheltenham
Abstract: 
The paper analyses some well-known explanations of the eurozone crisis and seeks to provide an answer to the question of whether expansionary fiscal policy is feasible within the restrictive confines of the existing structure of the eurozone. The paper addresses this question by focusing on a very precise historical period, 2008–2009, which immediately followed the global financial crisis and the ensuing Great Recession, to understand what permitted such a sharp rise in government spending throughout the eurozone without triggering a sovereign debt crisis until early 2010.
Subjects: 
eurozone crisis
fiscal policy
institutional adaptation
JEL: 
E52
E58
E62
E63
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article

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