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Euro-Dependence-A Peripheral Look beyond the Monetary Union: A Proposal of Reform of the TARGET2

Authors

Barredo-Zuriarrain, Juan , MOLERO SIMARRO, RICARDO, Quesada-Solana, Alejandro

External publication

No

Means

Rev. Radic. Polit. Econ.

Scope

Article

Nature

Científica

JCR Quartile

✗

SJR Quartile

✓

JCR Impact

0.579

SJR Impact

0.409

Web

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85029925624&doi=10.1177%2f0486613417703958&partnerID=40&md5=0fcf8645aecc01244b17735ba0b4d540

Publication date

01/09/2017

ISI

000418173500004

Scopus Id

2-s2.0-85029925624

DOI

10.1177/0486613417703958

Abstract

This paper seeks to present a proposal of reform of the TARGET2 (Trans-European Automated Real-Time Gross Settlement Express Transfer) system aimed to correct intra-European Union (EU) financial, trade, and productive imbalances. For this purpose, the proposal relies on the application of the Keynes Plan's principles to a regional integration process. Previously, the origins of the EU imbalances are traced to the shortcomings of the European monetary integration. Finally, the reforms needed to make the TARGET2 a rebalancing system are discussed in depth.

Keywords

European Monetary Union; intra-EU imbalances; Keynes Plan; regional monetary systems; TARGET2 reform