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The Crisis of EMU’s Unique Institutional Rules

The Crisis of EMU’s Unique Institutional Rules

A special characteristic of the “Euro-crisis” is the institutional straitjacket of the monetary union. A comparison with highly-indebted G7 member states, such as Japan, the United Kingdom or the United States, reveals that the euro area countries are less flexible concerning bond buying programs by the central bank or state support. In addition, the US has a rather unique status due to the “safe haven currency" of the US-Dollar. Today, I want explain: What’s the role of EMU’s unique institutional framework on the “Euro Crisis”?