from Geo-Graphics

Stressed Union

November 2, 2009

Blog Post
Blog posts represent the views of CFR fellows and staff and not those of CFR, which takes no institutional positions.

More on:

Europe and Eurasia

Monetary Policy

2009.10.26.Eurozone1

The greatest challenge of European monetary union is devising a single monetary policy for a large grouping of countries facing divergent economic conditions. As these charts show, this challenge has been thrust to the fore since 2008, as eurozone employment conditions have diverged dramatically across member countries. Whereas the effectiveness of independent monetary policy as a tool for managing employment in smaller open economies is much debated among economists, the political challenge facing the European Central Bank in having to justify its policy decisions under current conditions is clear.

2009.10.26.Eurozone2

2009.10.26.Eurozone3

Economist: Special Report on the Euro Area

CFR Meeting: The Euro at 10

More on:

Europe and Eurasia

Monetary Policy

Up
Close