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Quelle union budgétaire pour la zone euro ?

Author

Listed:
  • Agnès Bénassy-Quéré

    (Centre d'Etudes Prospectives et d'Informations Internationales)

  • Xavier Ragot

    (Observatoire français des conjonctures économiques)

  • Guntram B. Wolff

Abstract

Le choix de faire l’euro sans union budgétaire a été remis en cause par la crise. Des trois fonctions aditionnelles de la politique budgétaire – financement de biens publics, redistribution et stabilisation macroéconomique – seule la dernière se justifie véritablement au niveau de la zone euro plutôt que de l’Union européenne. Une politique insoutenable dans un État membre déstabilise l’ensemble de la zone, tandis que chaque politique nationale a aussi des effets de demande qui dépassent les frontières. Le « chacun pour soi » affaiblit la zone euro, mais la coordination des dix-neuf budgets nationaux s’avère extrêmement difficile.

Suggested Citation

  • Agnès Bénassy-Quéré & Xavier Ragot & Guntram B. Wolff, 2016. "Quelle union budgétaire pour la zone euro ?," Sciences Po publications info:hdl:2441/2aoqlvk6f93, Sciences Po.
  • Handle: RePEc:spo:wpmain:info:hdl:2441/2aoqlvk6f93g90p43rfa63th6
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    References listed on IDEAS

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    Cited by:

    1. Léo Aparisi de Lannoy & Xavier Ragot, 2017. "Une (ré) assurance chômage européenne," Sciences Po publications info:hdl:2441/5i0jcpu6sk9, Sciences Po.

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    Keywords

    Union budgétaire; Stabilisation budgétaire; Zone euro;

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