期刊名称：Ovidius University Annals: Economic Sciences Series
电子版ISSN：2393-3127
出版年度：2013
卷号：13
期号：1
语种：English
出版社：Ovidius University Press
摘要：The Euro zone’s deficiencies became obvious when the crisis turned permanent. The Euro zone was caught without a supervisory procedure on macroeconomic imbalances,crisis management instruments,adequate banking supervision and sufficient instruments of resolution. The primary reason for these failures is the lack of a fiscal union with an adequate authority over fiscal,structural and banking policies. Attempts to straighten these mistakes were done ad hoc and have so far been insufficient because they have implied a high moral hazard. Financial markets are increasingly aware of these shortcomings,and have begun to rely on the possibility of abolishing the Euro zone.
