THE FUNCTIONING OF THE EUROGROUP: PRESENT PROBLEMS AND CHALLENGES FOR THE FUTURE

Dan Ivanescu and Laura Ivanescu
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Laura Ivanescu: Academy of Economic Studies, Bucharest

Theoretical and Applied Economics, 2008, vol. 12(517)(supplement), issue 12(517)(supplement), 85-89

Abstract: The Economic and Monetary Union (EMU) architecture presents a bipolar structure, being focused both on the economic and the monetary pillar. If the monetary leg is represented by the European Central Bank, the economic pole has no institutional economic governance, despite of the fact that the foreign exchange mechanism and the common monetary policy create strong interdependencies between the economic policies set-up at a national level. The creation and the functioning, in the 3rd stage of the EMU, of the Eurogroup, as an informal consultation forum of the finance ministers and of the representatives of the European Commission and of the European Central Bank can be considered as a first step towards the creation of an institution for the economic governance in the Euro zone.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:12(517)(supplement):y:2008:i:12(517)(supplement):p:85-89

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