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Beyond the Juncker and Schäuble visions of euro-area governance

Guntram Wolff

Policy Briefs from Bruegel

Abstract: The issue Two diametrically opposed visions of the euro-area architecture have been put forward. European Commission president Jean-Claude Juncker favours a model that puts the Commission at the centre of fiscal policy decision-making. The former German finance minister Wolfgang Schäuble argues that fiscal surveillance should be centred on a reformed European Stability Mechanism. Juncker’s proposal would over-emphasise the Commission when fiscal policy making is national and would unduly mix the...

Date: 2017-12
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