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Proposals for Reforms and Democratization of the EMU

In: Financial Crisis Management and Democracy

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  • Bettina De Souza Guilherme

    (IRELAC
    European Parliament)

Abstract

In this part of the book, we discuss proposals to improve architectural and crisis management lacunas. While other partners of the network present own proposals, this chapter has the objective to sketch out proposals, which have been discussed or are still in the pipeline at the top level of European Union (EU) decision-takers and institutions to remedy lacunas, errors and omissions of the Economic and Monetary Union (EMU) architecture. A main argument advanced is that the reforms with a focus on “risk-avoidance” and stronger “surveillance” and “monitoring” had more success, while any reforms based on the principle of “risk-sharing have encountered major resistance, both for the financial market regulation and for the fiscal framework.

Suggested Citation

  • Bettina De Souza Guilherme, 2021. "Proposals for Reforms and Democratization of the EMU," Springer Books, in: Bettina De Souza Guilherme & Christian Ghymers & Stephany Griffith-Jones & Andrea Ribeiro Hoffmann (ed.), Financial Crisis Management and Democracy, edition 1, chapter 0, pages 345-360, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-54895-7_23
    DOI: 10.1007/978-3-030-54895-7_23
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