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SUMMARY:Continental Drift: Is the Euro’s fixed exchange rate regime unde
 rmining cohesion policy? - Christopher Day (Dept. of Land Economy)
DTSTART:20180515T121000Z
DTEND:20180515T130000Z
UID:TALK104383@talks.cam.ac.uk
CONTACT:Dr Arthur Dudney
DESCRIPTION:"The ravages of two world wars and advantages attainable from 
 a united Europe resulted in a continuous process of economic and political
  union in the half century following the Second World War. By the end of t
 he 20th Century\, this culminated in the establishment of the European Cen
 tral Bank and Euro currency. Despite the enormous benefits associated with
  the formation of the European Monetary Union (EMU)\, critics of the EMU o
 utlined numerous deficiencies which were rapidly brought to light during t
 he 2010 European debt crisis. Furthermore\, European cohesion policies see
 king to balance economic growth\, development and competitiveness across t
 he European Union remain largely ineffectual given the fundamental structu
 ral inadequacies of the EMU which lacks fiscal federalism in the absence o
 f a floating exchange rate mechanism. This dissertation seeks to identify 
 the degree to which the EMU distorted currency values and determine whethe
 r these distortions are contributing to the spatial disparities in economi
 c growth and development found across Europe with particular attention bei
 ng paid to the North-South divide. It is argued that cohesion policy will 
 continue to be undermined until the distortions in national competitivenes
 s are fully addressed.
LOCATION:The Richard King Room\, Darwin College
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