A new governance for the EMU and the economic policy framework
AbstractThe EMU governance has showed to be incapable of an effective crisis management following the global downturn. The recent decisions by European Council taken in March 2011, named the ‘Pact of the Euro’, to design a new governance of the EMU can be considered a significant attempt to give new and effective national budgetary rules, crisis management and resolution principles and procedures, economic policy framework to the Member States of the euro area, although several questions remain open. The present work seeks to investigate the causes of the crisis of the euro area and review the debate about the future of the EMU. Moreover this contribution evaluates critically the new governance of the EMU and the economic policy framework established by the Pact of the Euro underlying the need of adequate institutions, greater cooperative attitude and political coherence.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 30237.
Date of creation: Apr 2011
Date of revision:
EMU; Global crisis; European integration; Pact of the Euro;
Other versions of this item:
- Schilirò, Daniele, 2011. "A new governance for the EMU and the economic policy framework," MPRA Paper 32235, University Library of Munich, Germany, revised Jul 2011.
- F15 - International Economics - - Trade - - - Economic Integration
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
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