Advanced Search
MyIDEAS: Login

Coordination in place of integration? Economic governance in a non-federal EU

Contents:

Author Info

  • Renaud Thillaye
Registered author(s):

    Abstract

    The most commonly held opinion about the eurozone crisis is that it should lead to greater EU integration. Yet despite all the talk about fundamental design flaws and the need for a federal ‘leap forward’, EU governments and citizens are not ready to pool further sovereignty and resources as a way to strengthen the common currency and to improve the EU’s delivering capacity. Blueprints and roadmaps for completing the Economic and Monetary Union have been dealt with contempt by national leaders. As a result, more attention ought to be focused on how the imbalances threatening the EU’s cohesion and stability could be addressed within the existing boundaries of EU treaties. Improving the current set-up of policy coordination should be the priority of the next few years. This policy paper suggests ways to improve the institutions and scope of policy coordination in the EU. In terms of substance, the experience accumulated before and after the crisis has shown that a narrow approach in terms of fiscal and macroeconomic discipline is not enough. If EU member states do not want markets to impose adjustments in their own terms, they must embrace a broader approach to convergence and improve the conditions in which they adjust to each other. Wage and social developments should be included in EU supervision frameworks. As regards institutions, more reflection should be devoted to the innovations that would increase the impact of mutual commitments. This paper analyses the increasing contractual approach to EU governance, and argues that a stronger sense of reciprocity could arise from ad hoc cooperations on a smaller scale for the euro area and voluntary countries. One should nevertheless be clear about the limits of what coordination can achieve. Greater ambition in terms of EU cohesion and democratic legitimacy would require a more substantial rethink of EU policy-making in the long term.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.foreurope.eu/fileadmin/documents/pdf/Workingpapers/WWWforEurope_WPS_no032_MS83.pdf
    File Function: Full text
    Download Restriction: none

    Bibliographic Info

    Paper provided by WWWforEurope in its series WWWforEurope Working Papers series with number 32.

    as in new window
    Length: 19
    Date of creation: Jul 2013
    Date of revision:
    Publication status: published
    Handle: RePEc:feu:wfewop:y:2013:m:7:d:0:i:32

    Contact details of provider:

    Order Information:
    Postal: WWWforEurope Project Office Austrian Institute of Economic Research Arsenal Objekt 20 A-1030 Vienna
    Email:

    Related research

    Keywords: EU integration; European economic policy; European governance; European Monetary Union; good governance; multi-level governance; policy options; political economy of policy reform;

    Find related papers by JEL classification:

    This paper has been announced in the following NEP Reports:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:feu:wfewop:y:2013:m:7:d:0:i:32. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.