The Euro and the global crises: finding the balance between short term stabilization and forward looking reforms

Joshua Aizenman

NBER Working Paper No. 18138
Issued in June 2012

---- Acknowledgements -----

I would like to thank Michael Bordo, Brian Pinto, Albrecht Ritschl, Federico Sturzenegger, and the participants at the European Monetary Union: Lessons from the Debt Crisis OeNB_40th Conference, May 2012, Vienna, for their comments. Any views presented are those of the author and not the the National Bureau of Economic Research or the Austrian National Bank.

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