The Future of the European Monetary Union

Nicola Acocella ()

Economia Internazionale / International Economics, 2022, vol. 75, issue 2, 135-268

Abstract: Optimistic views prevailed in the EMU after a decade since its establishment. However, it was not realized that the shaky institutional foundations of the Eurozone (EZ) would soon lead to sustained ‘homegrown’ instability. The EMU is now at a crossroads. Several differences divide the various countries and make amendments to its institutions very difficult to implement. Il futuro dell’Unione Monetaria Europea Dopo un decennio dalla costituzione dell’Unione Monetaria Europea prevalevano le visioni ottimistiche sul suo futuro. Queste, però, non tenevano conto delle malferme fondamenta istituzionali dell’Eurozona, che avrebbero presto portato ad una instabilità alimentata dall’interno dell’Unione. L’UME è ora ad un bivio, con molteplici differenze che dividono i vari paesi e rendono molto difficile emendarne il tessuto istituzionale.

Keywords: EMU; Exit; Break-up; Many-speed Union; Reforms (search for similar items in EconPapers)
JEL-codes: F45 F55 H62 H63 H77 (search for similar items in EconPapers)
Date: 2022
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