Revista OEconomica

Raluca-Georgiana ROBU, Maria GHEORGHE (NIŢU), Valentin COJANU, Alexia-Maria POPESCU - Between Opportunity and Dependency: The Evolution of Romania’s Trade with Asian Economies [Între oportunitate şi dependenţă: evoluţia comerţului României cu economiile asiatice]

Narciz BĂLĂŞOIU, Octavian-Dragomir JORA, Răzvan Marian PÎRCĂLĂBESCU - Romania’s Positioning and Room for Manoeuvre: The Dilemmas of Peripheral Adaptation in the New Indo-Pacific [Poziţionarea şi marjele de manevră ale României: dilemele adaptării periferice în noul Indo-Pacific]

Mădălina JURUBIțĂ - Redefining EU Trade Policy for an Age of Geoeconomic Rivalry: Strategic Autonomy, Security, and Resilience

Geicun MUSTAFA - Islamophobia as an Informal Trade Barrier: Reputational Risk and the Political Economy of Deglobalization

Hesam JEBELI-BAKHT-ARA - Racialized Capitalism and Economic Discrimination: The Case of Ethnic Labour Segmentation in Contemporary Europe

Articles on Issue Theme

Daniel DĂIANU

Societatea Română de Economie (SOREC)

The Euro Area crisis has not passed and is not limited to public and private indebtedness. Otmar Issing, former chief economist of the European Central Bank, reiterated in Bucharest this April that the Euro Area started on one leg (the monetary policy) and that it lacks appropriate fiscal arrangements. He is not the only prominent voice who made this observation. Alexandre Lamfalussy, an architect of the Euro, noted that various obstacles obstruct fiscal integration. The McDougal Report, prepared at the request of the European Commission, has showed, ever since 1978, that a monetary union needs a common budget. Van Rompuy, and more recently Pierre Moscovici speak about the need for a “fiscal capacity”. I mentioned this to highlight that the discussion about the accession inwards-oriented is not intelligent. The great lessons of the recent crisis provide also answers to questions with respect to the right time of accession to the Euro Area.

ŒCONOMICA no. 4/2015

Keywords: European Union, euro area, EMU, convergence

JEL: F02, F15, F33, F45

The Real Convergence Is Not a Caprice (Romania and the Euro Area) [Convergenţa reală nu este un moft (România şi Euroaria)]

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