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Economic and Monetary Union

Radically transforming the EU economy – and how to finance it

By Ann Pettifor / 4 September, 2020

The Covid-19 pandemic has revealed a simple truth: today’s model of globalised, financialised capitalism, teetering on a shaky foundation of vast debts and costly credit, cannot deliver human well-being. In order to reverse the course, a safe ecological load has to be fixed – a ‘Plimsoll line’, like the white...

Eurozone reforms must focus on institutions and their democratic legitimacy

By Leo Hoffmann-Axthelm / 14 February, 2018

The Commission’s proposals to deepen Economic and Monetary Union have been described as a “power-grab”, but may restore balance to a field so far dominated by the largest EU countries.   The one thing that everyone can agree on is that the eurozone needs reform. The 2010-2012 crisis response had...

‘Dynamic Resilience’ needed in euro-area governance redesign

By Paolo Guerrieri / 13 February, 2018

The euro area has spent the best part of a decade fighting for survival. Significant institutional reforms have been introduced. More recently, the eurozone has been enjoying its strongest recovery since the financial crisis but complacency would be misplaced and the favourable economic expansion should be used as a unique...

A new approach to EU convergence

By Heikki Patomäki / 13 February, 2018

The trend for economic and social convergence between EU countries in the early years of the euro turned out to be short lived. The absence of euro area growth from 2010 to 2017 resulted in greater rather than smaller divergences in economic and social outcomes. The euro crisis followed by...

Stability Eurozone Future Playing the ball back to the member states.jpg

Eurozone Future: Playing the ball back to the member states

By Björn Hacker / 24 July, 2017

The latest push to revive Eurozone reform efforts shows an EU-Commission capitulating in the face of two divergent perspectives among the divided member states. It is doubtful if adherents of a stability union or a fiscal union approach will find common ground this time.   The European Commission’s recent reflection...

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