Funding European solidarity

Ewald Nowotny, Doris Ritzberger-Grünwald and Helene Schuberth

Chapter 1 in How to Finance Cohesion in Europe?, 2019, pp 2-7 from Edward Elgar Publishing

Abstract: This chapter examines the political, social and economic challenges that Europe is facing today. Undoubtedly, the process of economic and political integration has been cumbersome, and it is easy to undo its achievements. European Union (EU) funding can help EU Member States align their economic performance and thus stand united. After all, cohesion and convergence form the cornerstone of European integration. Yet, there is good and bad news: business cycles have become more similar in the euro area countries, but the gap in income levels has widened following the global financial crisis. Hence, the EU’s regional policies need an overhaul to become more effective. They should especially target skills, innovation and vulnerable regions, and seek synergies with private investment flows.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2019
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