%0 Journal Article
%T Doomsday for the Euro Area: Causes, Variants and Consequences of Breakup
%A Ansgar Belke
%A Florian Verheyen
%J International Journal of Financial Studies
%D 2013
%I MDPI AG
%R 10.3390/ijfs1010001
%X In this paper we describe the genesis of a doomsday scenario and discuss potential causes and motivations for a breakup of the euro area. For this purpose, we differentiate between the departure of weak and strong countries, and examine the impact of the reintroduction of a national currency on domestic debt, the domestic banking sector, EU membership and the freedom of trade. We also briefly analyze the social and political costs of the accompanying social disorder.
%K banking crisis
%K debt crisis
%K exchange rates
%K euro
%K optimum currency area
%K secession
%U http://www.mdpi.com/2227-7072/1/1/1