Crossroads of the single currency: Some keys for reflection from the periphery

Abstract

The article reflects about the viability and implications of the Economic and Monetary Union from a Southern periphery of the European Union perspective, especially that of the Spanish economy. The argument is developed through two ideas: a) euro zone’s reconfiguration carried out by community leaders has preserved and also has sharpened imbalances and asymmetries that triggered the economic crisis, b) the debate on how to overcome it contains and transcends the dilemma that arises from being  part of the European Monetary area, or not.