Settlement of the Debt Crisis In A Member State of the Monetary Union and in a Country Having Its Own Currency

Sajnoski, Krste and Boskov, Tatjana and Josifovska, Antonija (2016) Settlement of the Debt Crisis In A Member State of the Monetary Union and in a Country Having Its Own Currency. Journal of Sustainable Development, 6 (16). pp. 77-92. ISSN 1857-8519

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Abstract

This paper is focused on settling the debt crisis in a member state of the Monetary Union (for instance, Greece) and it presents the arguments that the settlement for overcoming the debt crisis must rise out of its causes. They are present both in the weaknesses of the Monetary Union’s functioning and the irresponsible behaviour of the government in the country. Therefore, the resolution must endanger neither the euro nor the stability of the country. It is unacceptable the resolution which can help the crisis to be overcome smoothly (by writing off the debts) if it violates the relations in the euro zone and if it endangers the future of the single currency. The burden of overcoming the crisis has to be borne both by the debtor and the creditors according to their “merits”. In this context, the author has elaborated the achievements of the pro and contra austerity measures.

Item Type: Article
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Tourism and Business Logistics
Depositing User: Tatjana Boskov
Date Deposited: 14 Aug 2017 13:16
Last Modified: 14 Aug 2017 13:16
URI: http://eprints.ugd.edu.mk/id/eprint/18061

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