A Proposal for a Growth and Fiscal Compact
Many people think that the European Union is about the creation of the single market. It is not. After hundreds of years of internal wars and millions of deaths, of tyrannies playing on nationalism and division, we tried to build a different, united Europe. Although they are extremely relevant, the single market and the common currency are only two means to achieve the wider project. We are now facing the most serious threat to this construction. National egoisms and division are reappearing because of the uneven costs produced by the current crisis. We left the European construction to become a technocratic superstructure, with no real democratic accountability. National interests impeded significant shifts of sovereignty to EU democratic co-operative decisions. The viability of the euro construction depends on the political and institutional framework of the entire European Union. The peculiarity of the EU with respect to traditional models is to keep together sovereign states by means of international treaties whose objective is to produce gradual political, social and economic homogenisation. That path has not yet reached the stage where some significant form of federalism is possible. This obliges, now and in the near future, member states to match the common currency more with consistency than homogeneity. If we have to accept the imposition of more consistent policies, this does not mean that we have to focus solely on the fiscal compact, which will be selfdefeating. A Growth Compact, in addition to the Fiscal Compact, appears as the current preferable approach to tackle current problems and to give a viable perspective to Europe.
Volume (Year): 1 (2012)
Issue (Month): 65-66 (September)
|Contact details of provider:|| Postal: Reconquista 266 - C1003ABF - Buenos Aires|
Phone: (54-11) 4348-3582
Fax: (54-11) 4348-3794
Web page: http://www.bcra.gov.ar
More information through EDIRC
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.:
When requesting a correction, please mention this item's handle: RePEc:bcr:ensayo:v:1:y:2012:i:65-66:p:77-106. 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: (Federico Grillo)
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.