Seminar organized by the

Center for European and International Affairs

in cooperation with the

Department of European Studies and International Relations

cceia of Nicosia

entitled

 

 

REVISITING MARTIN FELDSTEIN

EMU AND INTERNATIONAL CONFLICT

(Foreign Affairs, vol. 76, no. 6, Nov./Dec. 1997, pp. 60-73)

AND THE CASE OF CYPRUS

 

by

 

Andreas Theophanous

Professor of Political Economy

cceia of Nicosia

 

Wednesday, 3rd of April, 2013

18:15 – 19:30

 

 

Room: Main Conference Room, Main Building (2nd floor)

cceia of Nicosia

 

Seminar Coordinator: Giorgos Kentas

 

 

 

Abstract

REVISITING MARTIN FELDSTEIN

EMU AND INTERNATIONAL CONFLICT

(Foreign Affairs, vol. 76, no. 6, November/December 1997, pp. 60-73)

AND THE CASE OF CYPRUS

 

Feldstein had predicted strains in the EMU due to the different economic structures of the participating countries as well as of their objectives.  The Eurozone debt crisis and the gap between the European North and the European South are indicative.  The tragic case of Cyprus exemplifies the weaknesses and existing contradictions as well as the lack of the minimum level of solidarity necessary for such a project to succeed.  Given the architecture of the Eurozone and the philosophy of the Troika it will be impossible for Cyprus to recover and return to growth within the Eurozone.  The temporary exit from the Eurozone and the return to the pound seems to be the only pragmatic option.

 

 

 

 

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