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The Constitutional Treaty of the EU and the institutional framework

Author

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  • Hubert KEMPF

Abstract

The so-called Constitutional Treaty (CT) of the EU, currently in the middle of the ratification process, is seen by its advocates as a major step for the advancement of European integration, conciliating simultaneously a democratic deepening, a more efficient decision- making process in the EU, and a clearer definition of the aims and founding principles of the EU. Given the successful establishment of the Euro, the EU is facing new challenges in terms of macroeconomic policies. The Treaty tackles this issue. The present paper offers a preliminary assessment of what is achieved and concludes that the new framework represents a limited but clear progress for macroeconomic coordination and integration and offers scope for further changes. It also comments on the implicit version of fiscal federalism present in the Treaty.

Suggested Citation

  • Hubert KEMPF, 2006. "The Constitutional Treaty of the EU and the institutional framework," Departmental Working Papers 2006-005, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    • Handle: RePEc:mil:wpdepa:2006-005
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    More about this item

    Keywords

    EU Constitution; Macroeconomic Policy; Institutional framework;
    All these keywords.

    JEL classification:

    • H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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