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Advocating new reforms of the E(M)U economic governance

Author

Listed:
  • Christophe Blot

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

  • Jérôme Creel

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

  • Raul Sampognaro

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

  • Bruno Ducoudre

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

  • Xavier Timbeau

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

  • Sébastien Villemot

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, CEPREMAP - Centre pour la recherche économique et ses applications - ECO ENS-PSL - Département d'économie de l'ENS-PSL - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres)

Abstract

The crisis which started in 2008 looks like it is never going to end. Nearly nine years after the meltdown of the financial system and the violent recession followed by the euro crisis in 2012, recovery has been weak in the Euro Area. This elusive recovery has had dramatic consequences. In 2016, 16.2 million people in the Euro Area were unemployed. This is more than 2.5 million fewer than the high of 19 million in 2013, but it is still far from the 11.7 million unemployed in 2007 before the Great Recession kicked in. Moreover, 8.8 million people were long-term unemployed in 2015 and among them 5.7 million belong to the category "very long-term unemployed" (defined as 24 months or more of unemployment)

Suggested Citation

  • Christophe Blot & Jérôme Creel & Raul Sampognaro & Bruno Ducoudre & Xavier Timbeau & Sébastien Villemot, 2017. "Advocating new reforms of the E(M)U economic governance," PSE-Ecole d'économie de Paris (Postprint) hal-03458698, HAL.
    • Handle: RePEc:hal:pseptp:hal-03458698
    Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-03458698
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