Wirtschaftswissenschaftliche Fakultät der Leibniz Universität Hannover

2019 / 2018 / 2017 / 2016 / 2015 / 2014 / ältere Diskussionspapiere anzeigen

Diskussionspapiere - Hannover Economic Papers (HEP)

Speculative Eurozone Attacks and Departure Strategies

Autor: Stefan Homburg
Nummer: 640, Oct 2018, pp. 16
JEL-Class: E52, E58, F45

This paper shows that the eurozone payment system does not effectively protect member states from speculative attacks. Suspicion of a departure from the common currency induces a terminal outflow of central bank money in weaker member states. TARGET2 cannot inhibit this drain but only protects central bank assets. Evidence presented here suggests that a run on Italy is already on the way. The paper also considers departure strategies of strong and weak member states and the distributive effects of an orderly eurozone dissolution.


Diskussionspapier als PDF-Datei herunterladen
BibTeX-Datensatz herunterladen

| ©2004 - 2019 Wirtschaftswissenschaftliche Fakultät, letzte Änderung am 2014-09-02 11:55:06