{"id":4363,"date":"2012-08-22T17:43:29","date_gmt":"2012-08-22T15:43:29","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=4363"},"modified":"2012-08-23T21:40:17","modified_gmt":"2012-08-23T19:40:17","slug":"why-a-breakup-of-the-euro-area-must-be-avoided-lessons-from-previous-breakups","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/why-a-breakup-of-the-euro-area-must-be-avoided-lessons-from-previous-breakups\/","title":{"rendered":"Why a Breakup of the Euro Area Must Be Avoided: Lessons from Previous Breakups"},"content":{"rendered":"<p><a href=\"http:\/\/www.iie.com\/staff\/author_bio.cfm?author_id=455\" target=\"_blank\">Aslund, Anders<\/a>.<\/p>\n<p>One of the big questions of our time is whether the Economic and Monetary Union (EMU) will survive. Too often, analysts discuss a possible departure of one or several countries from the euro area as little more than a devaluation, but \u00c5slund argues that any country\u2019s exit from the euro area would be a far greater event with potentially odious consequences. A Greek exit would not be merely a devaluation for Greece but would unleash a domino effect of international bank runs and disrupt the EMU payments mechanism, which would lead to a serious, presumably mortal, disintegration of the EMU. It would inflict immense harm not only on Greece but also on other countries in the European Union and the world at large.<\/p>\n<p><strong>\u03a0\u03b7\u03b3\u03ae:\u00a0<\/strong>Peterson Institute for International Economics\u00a0<\/p>\n<p><a href=\"http:\/\/www.iie.com\/publications\/pb\/pb12-20.pdf\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aslund, Anders. One of the big questions of our time is whether the Economic and Monetary Union (EMU) will survive. Too often, analysts discuss a possible departure of one or several countries from the euro area as little more than a devaluation, but \u00c5slund argues that any country\u2019s exit from the euro area would be [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,32],"tags":[26,28],"class_list":["post-4363","post","type-post","status-publish","format-standard","hentry","category-19","category-32","tag-26","tag-28"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/4363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=4363"}],"version-history":[{"count":3,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/4363\/revisions"}],"predecessor-version":[{"id":4384,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/4363\/revisions\/4384"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=4363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=4363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=4363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}