Review of Keynesian Economics

Can prosperity return to the Economic and Monetary Union?

Malcolm Sawyer *

Keywords: Economic and Monetary Union, unemployment, structural reforms, fiscal compact, current-account imbalances


The paper focuses on the unemployment crisis within the Economic and Monetary Union, and the future prospects for employment and unemployment within the euro area. It considers the ‘structural reforms’ agenda for labour markets, and argues that, at best, that agenda would be neutral for unemployment. The ‘fiscal compact’, if it is adhered to, will reimpose austerity. The lack of concern over resolving the balance-of-payments imbalances threatens to confine many countries to high levels of unemployment.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information