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The European Economic and Monetary Union in the 21st century

  • The European Economic and Monetary Union (EMU) has been in turmoil for more than six years. The present governance rules do not seem to solve the problems neither permanently nor effectively. There is no vision about the future of Europe in the 21st century. This article describes a realignment of the economic governance, which does not necessarily lead to a transfer or political union. However, it solves the current and future challenges. In fact, the redesign of present rules is the most likely as well as legally and economically option today. The key ideais the detachment from the compulsive idea of an ever closer union. However, this vision requires boldness towards greater flexibility together with an exit clause or a state insolvency procedure for incompliant member states.

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Author of HS ReutlingenHerzog, Bodo
Erschienen in:FPRC journal ; area studies: Europe
Publisher:Foreign Policy Research Center
Place of publication:New Delhi
Document Type:Journal article
Publication year:2017
Tag:EMU; economic governance; future of Euro
Page Number:7
First Page:62
Last Page:68
DDC classes:320 Politik
Open access?:Ja
Licence (German):License Logo  Open Access