Reforming the Euro's Institutional Framework

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Reforming the Euro's Institutional Framework

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Philip Arestis, Malcolm Sawyer

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Philip Arestis

Abstract

The SGP has been the focus of growing controversy within the eurozone. The ECB continues to argue that reforming the SGP by relaxing its rules would damage the credibility of the euro. The opposite, however, may be closer to reality. Relaxing the rules according to the measures already taken by the European Commission has been inconsequential regarding the euro's credibility. In our view, many more fiscal policy reforms are needed so that the eurozone can realize a true economic recovery and enhance the credibility of the euro.

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Paper provided by Levy Economics Institute, The in its series Economics Policy Note Archive with number 03-2.

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Handle: RePEc:lev:levypn:03-2

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This paper has been announced in the following NEP Reports:

NEP-ALL-2003-03-03 (All new papers)
NEP-CBA-2003-03-03 (Central Banking)
NEP-EEC-2003-03-03 (European Economics)
NEP-MAC-2003-03-03 (Macroeconomics)
NEP-PKE-2003-03-03 (Post Keynesian Economics)

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Philip Arestis & Malcolm Sawyer, 2002. "Can Monetary Policy Affect The Real Economy?," Economics Working Paper Archive 355, Levy Economics Institute, The. [Downloadable!]
Other versions:
- Philip Arestis & Malcolm Sawyer, 2002. "Can Monetary Policy Affect The Real Economy?," Macroeconomics 0209012, EconWPA. [Downloadable!]
Willem F. Duisenberg, 1999. "Economic and monetary union in Europe : the challenges ahead," Proceedings, Federal Reserve Bank of Kansas City, pages 185-194. [Downloadable!]

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This page was last updated on 2009-11-30.

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