Template-Type: ReDIF-Paper 1.0 Title: The simple macroeconomics of North and South in EMU Handle: RePEc:bre:wpaper:740 Author-Name: Jean Pisani-Ferry Author-Name: Silvia Merler Abstract: The euro area today consists of a competitive, moderately leveraged North and an uncompetitive, over-indebted South. Its main macroeconomic challenge Creation-Date: 2012-07 File-URL: https://phpstack-765020-2596826.cloudwaysapps.com/sites/default/files/wp_attachments/wp_2012_12__2_.pdf File-Format: Application/pdf