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Euro area governance: What went wrong in the euro area? How to repair it?

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  • Jean Pisani-Ferry

Abstract

Bruegel Director Jean Pisani-Ferry focuses on the institutional response to the euro area crisis with the Van Rompuy Task Force being set up to reform economic governance. The task force is due to present its progress report shortly and the author examines two basic questions in this context what went wrong in the euro area (and the lessons learnt from this) and consequently what are the three choices for reforming governance. He explains why implementation of existing rules need to be strengthened and why the Van Rompuy Task Force should revisit the fundamental principles on which the EMU is founded and resist the temptation to solely address divergences.

Suggested Citation

  • Jean Pisani-Ferry, 2010. "Euro area governance: What went wrong in the euro area? How to repair it?," Policy Contributions 410, Bruegel.
  • Handle: RePEc:bre:polcon:410
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    Cited by:

    1. Xavier Richet, 2012. "Impact and Response to the Financial Crisis: Comparing the EU and China Policies," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 3-15.
    2. Francisco Carballo-Cruz, 2011. "Causes and Consequences of the Spanish Economic Crisis: Why the Recovery is Taken so Long?," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(3), pages 309-328, September.
    3. Salines, Marion & Glöckler, Gabriel & Truchlewski, Zbigniew & del Favero, Paola, 2011. "Beyond the economics of the euro - analysing the institutional evolution of EMU 1999-2010, September 2011," Occasional Paper Series 127, European Central Bank.

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