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Divergence and diversity in the Euro Area: the case of Germany, France and Italy
[research report]
Corporate Editor
Stiftung Wissenschaft und Politik -SWP- Deutsches Institut für Internationale Politik und Sicherheit
Abstract When the European Union introduced a common currency, this was based on the assumption that there would be increasing economic convergence of the participating states. These expectations were not met. Instead of gradually converging, the economic performance of euro area countries has noticeably di... view more
When the European Union introduced a common currency, this was based on the assumption that there would be increasing economic convergence of the participating states. These expectations were not met. Instead of gradually converging, the economic performance of euro area countries has noticeably diverged. The most considerable problem arising from this divergence is that it leads to social differences and to discrepancies in political interests regarding further direction of economic integration. Thus, in the long term, the current integration model within the euro area might be called into question.
Previous analyses of economic differences in the euro area have mostly focused on specific groups of countries, such as southern Europe versus northern Europe or central versus peripheral Europe. This study takes a different approach to the issue of convergence by looking at the three largest economies in the euro area: Germany, France and Italy. (Autorenreferat)... view less
Keywords
EU; Federal Republic of Germany; France; Italy; economy; economic integration; economic union; monetary union; Euro; economic development (on national level); economic factors; social factors; social indicators; convergence; divergence; equilibrium; international comparison; development; stability
Classification
Sociology of Economics
European Politics
Free Keywords
Wirtschaftliche Indikatoren; Implikation
Document language
English
Publication Year
2019
City
Berlin
Page/Pages
39 p.
Series
SWP Research Paper, 6/2019
DOI
https://doi.org/10.18449/2019RP06
ISSN
1863-1053
Status
Published Version; reviewed
Licence
Deposit Licence - No Redistribution, No Modifications