Belke, Ansgar; Gros, Daniel - Institute for the Study of Labor (IZA) - 2007
policy and reform effort on the one hand and the emergence of intra-Euro area divergences on the other. As a first step, we … are now appearing within the Euro area which threaten its long-term cohesiveness. The most manifest example of this threat … asynchronous developments of house prices in both countries. There are still large differences within the Euro area, with the small …