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@inproceedings{5303, author = {Helísek, Mojmír}, address = {Ostrava}, booktitle = {Machová, Z., Tichá, M. (eds.). Proceedings of the 13th International Conference „Economic Policy in the European Union Member Countries“}, keywords = {Euro area, debt crisis, European Stability Mechanism, sovereign default, European Central Bank}, howpublished = {elektronická verze "online"}, language = {eng}, location = {Ostrava}, isbn = {978-80-248-3796-3}, pages = {184-193}, publisher = {VŠB – TU Ostrava}, title = {Debt Crises in the Euro Area and its Impacts on the Prospects of the Euro – Economic Policy Context}, url = {http://www.ekf.vsb.cz/hpveu/en/09-proceedings/2015-proceedings/}, year = {2015} }
TY - JOUR ID - 5303 AU - Helísek, Mojmír PY - 2015 TI - Debt Crises in the Euro Area and its Impacts on the Prospects of the Euro – Economic Policy Context PB - VŠB – TU Ostrava CY - Ostrava SN - 9788024837963 KW - Euro area, debt crisis, European Stability Mechanism, sovereign default, European Central Bank UR - http://www.ekf.vsb.cz/hpveu/en/09-proceedings/2015-proceedings/ N2 - The debt crisis has affected five euro area countries. It has been particularly intensive in Greece. The paper examines potential implications of declaration of the government insolvency (“sovereign default”). It does not necessarily have to result in a country’s exit from a monetary union and replacement of the euro with new national currency. Such process is subject to an assessment of costs and benefits in the trade, capital outflows, and impact on the banking sector. The paper also concludes that a withdrawal from a monetary union does not always have to lead to adverse effects on the position of the euro within international relations. This is determined by the structure of creditors (official vs. private creditors), reaction of investors (subject to economic importance of the affected country), and measures taken by the monetary union’s central bank. These conclusions are also relevant decisions (in economic policy) relating to the euro adopting in the Czech Republic. ER -
HELÍSEK, Mojmír. Debt Crises in the Euro Area and its Impacts on the Prospects of the Euro – Economic Policy Context. Online. In \textit{Machová, Z., Tichá, M. (eds.). Proceedings of the 13th International Conference „Economic Policy in the European Union Member Countries“}. Ostrava: VŠB – TU Ostrava, 2015, s.~184-193. ISBN~978-80-248-3796-3.
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