The trauma of the European currency crises in the 1990s and the consequences until today

Giancarlo Corsetti , Galina Hale and Beatrice Weder di Mauro in this voxeu research reflect on 30 years of European currency crises:

September 2022 marked the 30th anniversary of the Exchange Rate Mechanism crisis, a seismic event which shook the continent and caused a severe recession to spread rapidly across European economies. The crisis also arguably produced the intellectual and political impulse needed to reinforce the ultimate adoption of a single, common currency in the form of the euro. The essays in a new CEPR eBook discuss the origins of the crisis and frame it within a broader European historical and political perspective.

The CEPR e-book is here.

Europe keeps going through currency crises whether they have own currencies or a unified currency Euro.

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