Abstract

UGARTECHE, Oscar. Lessons from the Euro Crisis for Regional Financial Cooperation. Prob. Des [online]. 2016, vol.47, n.186, pp.31-57. ISSN 0301-7036.

Regional financial cooperation (RFC) aims to secure the liquidity of central banks and build and maintain regional risk to be relatively homogenous. One aspect of RFC consists of the fiscal requirements to guarantee price stability and homogeneity among member countries. The regional accounts unit requires a stabilization fund and a debt bailout fund in order to ensure the spreads. This paper provides an overview of lessons for Latin America based on how RFC has worked in Europe, both before and throughout the euro crisis.

Keywords : Euro crisis; exchange rate; financial cooperation; central banks; monetary system.

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