Abstract
The financial crisis not only challenged European economic policies but also revealed deficiencies in the institutional design of the European Union. Recognizing these shortcomings, the President of the European Commission, Jean-Claude Juncker, presented a report on the completion of Europe’s economic and monetary union (‘Five Presidents’ Report’, 2015). This report proposes new initiatives, particularly towards a fiscal union and a political union. Chapter 12 analyses whether these proposals are adequate to tackle institutional deficiencies and respond to future crises. In particular, it takes up two suggestions and discusses concrete concepts of implementing them, a European unemployment insurance and a European treasury.
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Further Reading
Brunnermeier, M., H. James, and J.-P. Landau. 2016. The Euro and the Battle of Ideas. Conference Paper, Beiträge zur Jahrestagung des Vereins für Socialpolitik (German Economic Association), February 9, 2016, published by Princeton University Press.
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Tomann, H. (2017). The Debate on Reform Options. In: Monetary Integration in Europe. Studies in Economic Transition. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-59247-3_12
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DOI: https://doi.org/10.1007/978-3-319-59247-3_12
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Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-319-59246-6
Online ISBN: 978-3-319-59247-3
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