期刊名称：International Journal of Academic Research in Management
电子版ISSN：2296-1747
出版年度：2014
期号：199
页码：19
出版社：Helvetic Editions
摘要：This paper analyzes the theoretical relationship between the trinomial and the monetary union membership in the context of the Eurozone financial crisis. Since the last four years the sustainability of the Eurozone is intensely discussed in international political economy (IPE) by scholars and non-academic journalists, especially in relation to the effectiveness of austerity to solve the crisis. The author argues that the main cause of the crisis is not the profligacy of some states, but the lack of competitiveness inherent to the necessary implementation of internal devaluation leading to current account (CA) and capital account (KA) imbalances, increasing borrowing from weaker countries, thereby affecting their public budgets, growth and social justice. The conclusion summarizes that the Eurozone sooner or later should collapse due to economic, financial, social and political crises.
