Reinforcing EU Governance in Times of Crisis: The Commission Proposals and Beyond
AbstractThe recent extensive package introduced by the Commission is the "most comprehensive reinforcement of economic governance in the EU and the euro area since the launch of the Economic and Monetary Union. Broader and enhanced surveillance of fiscal policies, but also macroeconomic policies and structural reforms are sought in the light of the shortcomings of the existing legislation. New enforcement mechanisms are foreseen for non-compliant Member States. In this very crucial and important package of 6 legislative dossiers this paper paper tries to identify critical missing or redundant and/or unworkable elements within the Commission package. Moreover it checks what (if anything) is missing outside and beyond the proposals in order to make the whole package of governance reform complete and workable as, for instance, crisis resolution mechanisms and debt restructuring, EMF, project bonds and Eurobonds.
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Bibliographic InfoPaper provided by DIW Berlin, German Institute for Economic Research in its series Discussion Papers of DIW Berlin with number 1082.
Length: 29 p.
Date of creation: 2010
Date of revision:
EU governance; European Council; European Financial Stability Facility; European Monetary Fund; policy coordination; scoreboard; Stability and Growth Pact;
Other versions of this item:
- Ansgar Belke, 2010. "Reinforcing EU Governance in Times of Crisis: The Commission Proposals and Beyond," Ruhr Economic Papers 0232, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
- E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
- P48 - Economic Systems - - Other Economic Systems - - - Political Economy; Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-12-11 (All new papers)
- NEP-EEC-2010-12-11 (European Economics)
- NEP-MAC-2010-12-11 (Macroeconomics)
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- Schilirò, Daniele, 2011.
"A new governance for the EMU and the economic policy framework,"
32235, University Library of Munich, Germany, revised Jul 2011.
- Schilirò, Daniele, 2011. "A new governance for the EMU and the economic policy framework," MPRA Paper 30237, University Library of Munich, Germany.
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