ECB Decision-making and the Status of the Eurogroup in an Enlarged EMU

Wojciech Paczynski

No 262, CASE Network Studies and Analyses from CASE-Center for Social and Economic Research

Abstract: This paper analyses the link between forthcoming EU enlargement and selected aspects of EU institutional reforms, namely decision making rules in the European Central Bank and the status of the Eurogroup. It argues that some earlier arguments calling for urgent ECB reform are based on unrealistic assumptions. It concludes that the reform recently adopted by the EU Council as well as the present system, while not free from shortcomings, could provide a workable environment for monetary policy in an enlarged EMU. Additionally, the paper claims that designing efficient institutional solutions for the EU Council is also important from the perspective of new member states as it might impact on their chances for early adoption of the common currency.

Keywords: ECB; Eurogroup; monetary policy; decision rules; EMU enlargement (search for similar items in EconPapers)
Pages: 26 Pages
Date: 2003
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:sec:cnstan:0262

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