Crisis in Eurozone: Challenges and Responses

DOI: 10.20542/0131-2227-2013-9-12-24

V. Cherkasov, The Central Bank of the Russian Federation, 12, Neglinnaya Str., Moscow, 107016, Russian Federation (
S. Sharova, The Central Bank of the Russian Federation, 12, Neglinnaya Str., Moscow, 107016, Russian Federation (

Abstract. The article appeals to particular reasons for the recent crisis in Eurozone. It includes research on the measures taken to address the goals of public finance, banking systems and financial markets stabilization. Initiatives on overcoming the conflict between the single currency and a national sovereignty of European states, establishing more solid institutional basis for monetary union are under consideration.

Keywords: monetary union, sovereignty, divergence, crisis, official bailout, recapitalization, ESFS, ESM, monetary policy, fiscal compact, banking union

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For citation:
Cherkasov V., Sharova S. Crisis in Eurozone: Challenges and Responses. World Eonomy and International Relations, 2013, no. 9, pp. 12-24.

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