Publication

This publication contends that the EU’s adoption of a common currency was based on the assumption that there would be increasing economic convergence between participating states. But economic performance in these states has actually diverged. In response, this study looks at the three largest economies in the euro area: Germany, France and Italy. More specifically, the text’s author looks at 1) what lies behind the differences in economic performance in the three countries; 2) whether a return to national currencies could support necessary reforms and convergence; 3) how current economic performance influences debates on euro area reform, and more.