European Union and Monetary Union in Permanent Crisis II

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The book critiques the collapse of the European Monetary Union established by the Maastricht Treaty, highlighting issues such as permanent rescue mechanisms and joint liability that have transformed it into a fiscal union with redistributive features. It raises concerns over bond-purchasing programs that threaten the independence of the European Central Bank. In response to these challenges, the author proposes a parallel currency concept aimed at restoring functionality to the common currency system.