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Reforming the Eurozone : assessment of the reform package by the European Commission - treating symptoms or root causes?

  • The paper studies the reform package proposed by the European Commission on 6 December 2017. First, institutional and economic implications of the reform proposal are analysed. The paper finds that some proposals are beyond the present treaty provisions. For instance, the proposal of a fiscal capacity does not tackle the economic root causes without a supranational transfer mechanism. In fact, the proposed budget neutrality over the medium-term is unfeasible due to cross country heterogeneity in the Eurozone. At the end, the paper develops policy conclusions.

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Metadaten
Name:Herzog, Bodo
URN:urn:nbn:de:bsz:rt2-opus4-19337
DOI:https://doi.org/10.14254/2071-789X.2018/11-3/4
ISSN:2071-789X
eISSN:2306-3459
Erschienen in:Economics & sociology
Publisher:Centre of Sociological Research
Place of publication:Ternopil
Document Type:Article
Language:English
Year of Publication:2018
Tag:EMU; European Monetary Fund; economic governance; reform
Volume:11
Issue:3
Pagenumber:19
First Page:59
Last Page:77
Dewey Decimal Classification:330 Wirtschaft
Open Access:Ja
Licence (German):License Logo  Open Access