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The Functioning Of The Eurogroup: Present Problems And Challenges For The Future

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  • Dan Ivanescu

    (Academy of Economic Studies, Bucharest)

  • Laura Ivanescu

    (Academy of Economic Studies, Bucharest)

Abstract

The Economic and Monetary Union (EMU) architecture presents a bipolar structure, being focused both on the economic and the monetary pillar. If the monetary leg is represented by the European Central Bank, the economic pole has no institutional economic governance, despite of the fact that the foreign exchange mechanism and the common monetary policy create strong interdependencies between the economic policies set-up at a national level. The creation and the functioning, in the 3rd stage of the EMU, of the Eurogroup, as an informal consultation forum of the finance ministers and of the representatives of the European Commission and of the European Central Bank can be considered as a first step towards the creation of an institution for the economic governance in the Euro zone.

Suggested Citation

  • Dan Ivanescu & Laura Ivanescu, 2008. "The Functioning Of The Eurogroup: Present Problems And Challenges For The Future," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 12(12(517)(s), pages 85-89, December.
  • Handle: RePEc:agr:journl:v:12(517)(supplement):y:2008:i:12(517)(supplement):p:85-89
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