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Reports Year : 2002

After the cash changeover


Current forecasts for Europe are currently grounded on a compromise between two alternative hypothesis, which I will describe in a stylised way. According to the first which may be called the big economy assumption, the European economy not being poisoned by structural desequilibria - the huge private sector deficit (about 5% of GDP) which characterises the American economy as a consequence of past overinvestment - should soon rebound in such a way that the prospect for 2002, and in a greater extent for 2003, will be rather bright. After all, one of the benefit rightly expected from the creation of the euro is that it transforms a collection of small and medium sized economies into one big economy arithmetically less open to trade and enjoying thus a greater degree of autonomy (...).
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hal-00972904 , version 1 (22-05-2014)


  • HAL Id : hal-00972904 , version 1
  • SCIENCESPO : 2441/5578


Jean-Paul Fitoussi. After the cash changeover. 2002. ⟨hal-00972904⟩
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