IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

The messy rebuilding of Europe

  • Jean Pisani-Ferry
  • André Sapir
  • Guntram B. Wolff

The euro crisis and subsequent policy responses have challenged the assumptions underpinning the governance of the euro area, and the relationship between the European Unionâ??s euro- and non-euro countries. The euro policy regime has become increasingly complex and difficult to manage, raising the question of the accountability of decision making to citizens. Complexity also threatens to create frustration for euro area members, which fear that initiatives to strengthen the euro will be hindered, and for non-euro members, which fear that they will be de-facto deprived of their say in decisions of major relevance to them. It is too early to determine if and how policy integration within the euro area will develop beyond its current limited monetary and budgetary remit. Alternative scenarios can be envisaged, from the building of a coherent euro area within the EU, to a fragmentation of the financial market and a generalised â??variable geometryâ??. Policy action should be based on the need to: Make room for deeper integration within the euro area, beyond the limited remit envisaged in the Lisbon treaty Preserve the integrity of the EU27 and its essential governance arrangementsEnsure equal treatment in the application of common rules Ensure that candidates for euro-area membership have a voice in the definition of its rules Balance the requirements of legal clarity, accountability and efficiency with the desirability of experimentation through variable geometry This paper was presented to the Economic and Financial Affairs Ministers of the European Union on 30 March 2012 in Copenhagen.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.bruegel.org/download/parent/719-the-messy-rebuilding-of-europe/file/1566-the-messy-rebuilding-of-europe/
Our checks indicate that this address may not be valid because: 404 Not Found (http://www.bruegel.org/download/parent/719-the-messy-rebuilding-of-europe/file/1566-the-messy-rebuilding-of-europe/ [301 Moved Permanently]--> http://bruegel.org/download/parent/719-the-messy-rebuilding-of-europe/file/1566-the-messy-rebuilding-of-europe/). If this is indeed the case, please notify (Bruegel)


Download Restriction: no

Paper provided by Bruegel in its series Policy Briefs with number 719.

as
in new window

Length:
Date of creation: Mar 2012
Date of revision:
Handle: RePEc:bre:polbrf:719
Contact details of provider: Postal: Rue de la Charité, B-1210 Brussels
Phone: +32 2 227 4210
Web page: http://www.bruegel.org
Email:


More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:bre:polbrf:719. 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: (Bruegel)

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.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.