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European Union and Monetary Union in Permanent Crisis II
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The European Monetary Union based on the Maastricht Treaty doesnt exist any longer. Permanent rescue parachutes, joint liability and legal presumptions by the EU Commission lead to a fiscal union with a redistributive character. Bond-purchasingprogrammes endanger the independence of the ECB. As an alternative, Dirk Meyer develops a parallel currency concept for a functioning common currency.
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