Deeper Integration of Economic and Monetary Union

Stefan Ederer and Stefan Weingärtner
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Stefan Weingärtner: WIFO

Austrian Economic Quarterly, 2013, vol. 18, issue 3, 135-148

Abstract: The economic crisis has laid open deficiencies in the construction of the European Economic and Monetary Union (EMU). As a consequence, the European Council and the Commission have proposed reforms for the completion of EMU. In a first step towards an integrated Banking Union, a lighter version of a common bank supervision has been agreed. However, key elements to secure the stability of the euro area are still missing. Measures taken under the acute pressure of the crisis are confined to structural reforms and have de facto suspended the operation of automatic stabilisers in the crisis countries.

Keywords: Integration; Economic; and; Monetary; Union; EMU (search for similar items in EconPapers)
Date: 2013
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