The Euro Crisis in Spain and Portugal and its Methods
to Overcome. Cover Image

Kryzys euro w Hiszpanii i Portugalii i metody jego przezwyciężenia
The Euro Crisis in Spain and Portugal and its Methods to Overcome.

Author(s): Jaroslaw Kundera
Subject(s): Economy, Business Economy / Management, Financial Markets, Public Finances
Published by: Społeczna Akademia Nauk
Keywords: public debt; budget deficit; austerity program; structural policy; coordination of monetary and fiscal policy

Summary/Abstract: The main goal of the article is to distinguish the main causes of the euro crisisand the methods of its overcoming. The work examines the reasons of crisis and anticrisis policies in two countries of the euro zone the most affected by the economic crisis: Portugal and Spain. Stands out for several reasons: bubble in the real estate market, global structuralim balances, imbalance in trade between the partners of the euro area, the growth of wage,excessive debt, monetary policy and low interest ECB interest rates, In the fight against thecrisis, Portugal, Spain have carried out austerity programs and structural reform of privatization of public sector role, internal devaluation and change production structure. Reform inthe Member States does not protect however the euro against further crises, if you do notenter it on the mechanism reform of European integration.

  • Issue Year: 19/2018
  • Issue No: 4.2
  • Page Range: 167-178
  • Page Count: 12
  • Language: Polish