Resumo

MAMEDE, Ricardo Paes. Alternative explanations for the euro crisis and their implications. Anál. Social [online]. 2020, n.236, pp.626-652. ISSN 0003-2573.  https://doi.org/10.31447/AS00032573.2020236.07.

The paper discusses alternative explanations for the crisis that hit the euro area in 2010-2012. The crisis is inseparable from the accumulation of external imbalances between member countries since the mid-1990s. Therefore, the explanation for its origins has to be found in the identification of the mechanisms that contributed to the accumulation of those imbalances. The different explanations discussed here - convergence between economies, fiscal practices, labour relations, capital flows and specialization profiles - are not mutually exclusive. However, the available evidence suggests that some processes are more relevant than others - and they are not the most obvious.

Palavras-chave : Eurozone crisis; financial crisis; Portuguese economy; specialisation profile; Eurozone reform.

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