A new governance for the EMU and the economic policy framework

Daniele Schiliro'

MPRA Paper from University Library of Munich, Germany

Abstract: The EMU governance has showed to be incapable of an effective crisis management following the global downturn. The recent decisions by European Council taken in March 2011, named the ‘Pact of the Euro’, to design a new governance of the EMU can be considered a significant attempt to give new and effective national budgetary rules, crisis management and resolution principles and procedures, economic policy framework to the Member States of the euro area, although several questions remain open. The present work seeks to investigate the causes of the crisis of the euro area and review the debate about the future of the EMU. Moreover this contribution evaluates critically the new governance of the EMU and the economic policy framework established by the Pact of the Euro underlying the need of adequate institutions, greater cooperative attitude and political coherence.

Keywords: EMU; Global crisis; European integration; Pact of the Euro (search for similar items in EconPapers)
JEL-codes: F15 F33 F36 O52 (search for similar items in EconPapers)
Date: 2011-04
New Economics Papers: this item is included in nep-eec
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Citations: View citations in EconPapers (4)

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Related works:
Working Paper: A new governance for EMU and the economic policy framework (2012)
Working Paper: A new governance for the EMU and the economic policy framework (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:30237

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