The current economic crises and policy proposals for the future of the Euro Zone: an Austrian theory perspective Online publication date: Sat, 23-Aug-2014
by Myriam J. Maier
International Journal of Education Economics and Development (IJEED), Vol. 3, No. 4, 2012
Abstract: The current global financial crisis involves a wide range of situations in which economies, financial institutions, and assets have lost a substantial portion of their value. Banking panics, financial crisis associated with financial bubbles' bursts, sovereign debt defaults, and currency crisis were also contributing factors to the crisis. The convergence of different economies has resulted in great contribution towards the achievement of common economic objectives. This is a big factor towards the establishment of a strong economic future for the global economy as well as for the Euro Zone as discussed in the context of this review. The establishment of an integrated economic system results in laissez-faire and liberalised economics with the common monetary and fiscal policies optimising the economic performance of the union which ensures limited individual economy's government interference as proposed by the Austrian School's economics.
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