<abstract xmlns="http://www.w3.org/1999/xhtml"><p>In the aftermath of the UK referendum on June 23<sup>rd</sup>, 2016 that resulted in a sonorous negative decision regarding the willingness of the British people to remain in the EU, a significant number of alarming questions have emerged. Although Europe should have forged in crises, nowadays, many compromises have to be made in order to maintain the European construction as intact as possible. The question we attempt to answer is whether a new phase of unconventional monetary policy in the form of QE would be appropriate to lessen the threat of an upcoming crisis. This is why we examine Eurozone QE perspectives through the prism of the new EU era without the UK in order to highlight the pros and cons of the historical Brexit decision. As new rounds of unconventional monetary policy are believed to be essential for supporting the weaker countries in the European south, perspectives of non-conventional success could alter and optimal policies be substantially reformulated subject to the newly-arising constraints. Based on the main scenarios about the UK’s relations to the European Union in the near future, we estimate how a new round of non-conventional measures could affect the Britons as well as the European citizens. Moreover, we try to assess the viability of each of these outcomes through the spectrum of a monetary-driven decision-making.</p></abstract>

In the aftermath of the UK referendum on June 23rd, 2016 that resulted in a sonorous negative decision regarding the willingness of the British people to remain in the EU, a significant number of alarming questions have emerged. Although Europe should have forged in crises, nowadays, many compromises have to be made in order to maintain the European construction as intact as possible. The question we attempt to answer is whether a new phase of unconventional monetary policy in the form of QE would be appropriate to lessen the threat of an upcoming crisis. This is why we examine Eurozone QE perspectives through the prism of the new EU era without the UK in order to highlight the pros and cons of the historical Brexit decision. As new rounds of unconventional monetary policy are believed to be essential for supporting the weaker countries in the European south, perspectives of non-conventional success could alter and optimal policies be substantially reformulated subject to the newly-arising constraints. Based on the main scenarios about the UK’s relations to the European Union in the near future, we estimate how a new round of non-conventional measures could affect the Britons as well as the European citizens. Moreover, we try to assess the viability of each of these outcomes through the spectrum of a monetary-driven decision-making.

Brexit and new perspectives of an unconventional way of Eurozone revival

Journal of Central Banking Theory and Practice

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

{"article-title":"Brexit and new perspectives of an unconventional way of Eurozone revival"}

In the aftermath of the UK referendum on June 23rd, 2016 that resulted in a sonorous negative decision regarding the willingness of the British people to...

Brexit and new perspectives of an unconventional way of Eurozone revival

Published Online: Sep 19, 2019

Page range: 5 - 20

Received: Apr 22, 2018

Accepted: Jul 06, 2018

DOI: https://doi.org/10.2478/jcbtp-2019-0021

Keywords
Brexit, European Union, Quantitative Easing, Eurozone

© 2019 Nikolaos A. Kyriazis et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Brexit and new perspectives of an unconventional way of Eurozone revival

Published Online: Sep 19, 2019

Page range: 5 - 20

Received: Apr 22, 2018

Accepted: Jul 06, 2018

DOI: https://doi.org/10.2478/jcbtp-2019-0021

KeywordsBrexit, European Union, Quantitative Easing, Eurozone

© 2019 Nikolaos A. Kyriazis et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
Brexit, European Union, Quantitative Easing, Eurozone