• Peter Alfons SCHMID Catholic University Eichstätt-Ingolstadt, Germany


The Euro Zone (EZ)’s economies are under great stress since last decade’s financial crisis. Diverging interest rates, high debt burdens and sluggish growth in several member countries led to various rescue activities. Nevertheless, financial markets have still not calmed and the break-up of the EZ is discussed openly. Contrary to the popular belief I show that the Euro itself has been a success story so far but that the EZ suffers under a debt crisis and huge economic imbalances. An overhaul of the EZ’s institutional framework is necessary.


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How to Cite
SCHMID, Peter Alfons. THE CRISIS OF THE EUROPEAN MONETARY UNION. Theoretical and Practical Research in Economic Fields, [S.l.], v. 3, n. 2, p. 109-120, dec. 2012. ISSN 2068-7710. Available at: <>. Date accessed: 24 feb. 2024.