Publications

Public Policy Brief Highlights No. 106A | December 2009

Can Euroland Survive?

Social unrest across Europe is growing as Euroland’s economy collapses faster than the United States’, the result of falling exports and a weaker fiscal response. The controversial title of this brief is based on a belief that the nature of the euro itself limits Euroland’s fiscal policy space. The nations that have adopted the euro face “market-imposed” fiscal constraints on borrowing because they are not sovereign countries. Research Associate Stephanie A. Kelton and Senior Scholar L. Randall Wray foresee a real danger that these nations will be unable to prevent an accelerating slide toward depression that will threaten the existence of the European Union.


Publication Highlight

Summary Vol. 30, No. 3
Summary Fall 2021
Author(s): Elizabeth Dunn, Michael Stephens
November 2021

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