Macro Musings with David Beckworth cover image

Luis Garicano on the Future of Digital Money and Lessons Learned from the History of the Euro

Macro Musings with David Beckworth

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Fiscal Discipline in the Eurozone: A Historical Analysis

This chapter examines the history and challenges of fiscal discipline within the Eurozone, focusing on key violations of budget laws by France and Germany in 2003. It analyzes the implications of these violations during financial crises, especially the 2008-2009 global crisis, and reflects on the ongoing economic uncertainties amid hopes for reform.

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