Autore
Cooper, Russel

Titolo
Exit from a Monetary Union through Euroization: Discipline without chaos
Periodico
European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 2012 - Fascicolo: 9 - Pagina iniziale: 1 - Pagina finale: 15

This paper studies the role of exit from a monetary union during a debt crisis. A monetary union, such as the European Monetary Union, needs to establish a procedure for exit as a tool to cope with debt default. The paper studies various forms of exit and argues that “Euroization” is both a credible and effective means of punishment for countries in default.




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