This article analyses the roots of the European debt crisis, which started at the end of 2009 and embraced the so called PIGS, causing a global turbulence. It studies the historical genesis of the European Monetary Union since the decade of 1970, in connection with the dynamics of the...

This article shows that, to a large extent, the European sovereign debt crisis resulted from the institutional arrangement of Maastricht, as well as the policies pursued by the European leadership, formatted from the "new macroeconomic consensus" and the theory of optimal economic area. In...