Lacking "Europeanisation" of National Business Cycles as a Risk for the Euro Area
Ten years after the start of EMU, the global financial market crisis is putting its viability to a test. In the absence of other mechanisms to smooth such a shock, a higher degree of economic policy co-ordination and closer co-operation between the euro area member countries and the ECB is urgently recommended. These steps could promote the necessary convergence towards a "European business cycle".
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Volume (Year): 14 (2009)
Issue (Month): 2 (June)
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