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The recent reform of European governance: A critical review

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  • Dionysios Solomos
  • Dimitrios Koumparoulis

Abstract

This paper investigates whether the recent EU governance reform is a step in the right direction and discusses its ability to restore European financial stability. The authors argue that the reform appears incapable of dealing with the factors responsible for the sovereign debt crisis, and they stress the need for financial sector reforms and sound fiscal policies. To that end, the adoption of national fiscal rules seems capable of dealing with the profligacy of governments and tackling the problem of deficit bias. Regarding the introduction of the new Excessive Imbalance Procedure, this article argues that EU authorities should adopt a symmetric approach instead of the one currently being pursued. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2012

Suggested Citation

  • Dionysios Solomos & Dimitrios Koumparoulis, 2012. "The recent reform of European governance: A critical review," Intereconomics: Review of European Economic Policy, Springer;German National Library of Economics;Centre for European Policy Studies (CEPS), vol. 47(5), pages 298-303, September.
  • Handle: RePEc:spr:intere:v:47:y:2012:i:5:p:298-303
    DOI: 10.1007/s10272-012-0431-x
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    File URL: http://hdl.handle.net/10.1007/s10272-012-0431-x
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    Cited by:

    1. Dionysios K. Solomos & Dimitrios N. Koumparoulis, 2013. "Financial Sector and Business Cycles Determinants in the EMU: An Empirical Approach (1996-2011)," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 34-58.
    2. Solomos, Dionysios & Papageorgiou, Theofanis & Koumparoulis, Dimitrios, 2012. "Financial Sector and Business Cycles Determinants in the EMU context: An Empirical Approach (1996-2011)," MPRA Paper 43858, University Library of Munich, Germany.

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