The role of the European Union in fostering convergence

Benoît Cœuré

Chapter 2 in How to Finance Cohesion in Europe?, 2019, pp 8-26 from Edward Elgar Publishing

Abstract: Growth, Europe and togetherness are the three necessary elements to accomplish what the Treaty on European Union (EU) promises: economic and social cohesion. This chapter reviews the current state of convergence of Central, Eastern and Southeastern European (CESEE) economies. It then discusses how three key European policy areas can help to accelerate convergence and thereby also foster cohesion: the completion of the Single Market, the launch of a true capital markets union and the targeted use of EU funds. It concludes that convergence requires joint efforts and responsibility. It requires Member States to translate EU initiatives and recommendations into concrete and positive effects on the ground, and candidate countries and potential candidates to achieve institutional excellence as early as possible in the transition process. But accelerating convergence also requires the EU, and the euro area in particular, to help underwrite this process.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/view/edcoll/9781789902594/9781789902594.00007.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:19041_2

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().