Poslednji tango u evrozoni? Pukotine u evro konstruktu
Last Tango in the Euro Area: Cracks in Foundations of the Euro Construct

Summary/Abstract: The crisis of sovereign debt and banking system in the Euro Area seriously endanger not only economic stability of the Old continent, but also of the world economy as a whole. In this study, we identify causes of the crisis and point towards plausible solutions aiming at a provisional overcoming of the recession. If, on the other hand, central European countries continue to insist on further implementation of deflationary oriented economic measures in peripheral European economies the break-up of the Euro Area is likely. Final, potentially devastating consequences of this possible grim event are at this moment very hard to predict.

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