The Resource Euro-area governance: what to reform and how to do it : what to reform and how to do it, by André Sapir and Guntram B. Wolff, (electronic resource)
Euro-area governance: what to reform and how to do it : what to reform and how to do it, by André Sapir and Guntram B. Wolff, (electronic resource)
Resource Information
The item Euro-area governance: what to reform and how to do it : what to reform and how to do it, by André Sapir and Guntram B. Wolff, (electronic resource) represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in European University Institute.This item is available to borrow from 1 library branch.
Resource Information
The item Euro-area governance: what to reform and how to do it : what to reform and how to do it, by André Sapir and Guntram B. Wolff, (electronic resource) represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in European University Institute.
This item is available to borrow from 1 library branch.
- Summary
- The Issue Reform of the governance of the euro area is being held back by disagreement on what is at the root of the euro area's woes. Pre-crisis, the euro area suffered from the built-up of financial imbalances, price and wage divergence and an insufficient focus on debt sustainability. During the crisis, the main problems were slow resolution of banking problems, an inadequate fiscal policy stance in 2011-13 for the area as a whole, insufficient domestic demand in surplus countries and slow progress with structural reforms to overcome past divergences. Policy Challenge Euro-area governance needs to move beyond the improvements brought about by banking union and should establish institutions to prevent divergences of wages from productivity. We propose the creation of a European Competitiveness Council composed of national competitiveness councils, and the creation of a Eurosystem of Fiscal Policy (EFP) with two goals: fiscal debt sustainability and an adequate area-wide fiscal position. The EFP should have the right in exceptional circumstances to declare national deficits unlawful and to be able to force parliaments to borrow more so that the euro-area fiscal stance is appropriate. A euro-area chamber of the European Parliament would have to approve such decisions. No additional risk-sharing would be introduced. In the short term, domestic demand needs to be increased in surplus countries, while in deficit countries, structural reform needs to reduce past divergences
- Language
- eng
- Label
- Euro-area governance: what to reform and how to do it : what to reform and how to do it
- Title
- Euro-area governance: what to reform and how to do it
- Title remainder
- what to reform and how to do it
- Statement of responsibility
- by André Sapir and Guntram B. Wolff
- Language
- eng
- Summary
- The Issue Reform of the governance of the euro area is being held back by disagreement on what is at the root of the euro area's woes. Pre-crisis, the euro area suffered from the built-up of financial imbalances, price and wage divergence and an insufficient focus on debt sustainability. During the crisis, the main problems were slow resolution of banking problems, an inadequate fiscal policy stance in 2011-13 for the area as a whole, insufficient domestic demand in surplus countries and slow progress with structural reforms to overcome past divergences. Policy Challenge Euro-area governance needs to move beyond the improvements brought about by banking union and should establish institutions to prevent divergences of wages from productivity. We propose the creation of a European Competitiveness Council composed of national competitiveness councils, and the creation of a Eurosystem of Fiscal Policy (EFP) with two goals: fiscal debt sustainability and an adequate area-wide fiscal position. The EFP should have the right in exceptional circumstances to declare national deficits unlawful and to be able to force parliaments to borrow more so that the euro-area fiscal stance is appropriate. A euro-area chamber of the European Parliament would have to approve such decisions. No additional risk-sharing would be introduced. In the short term, domestic demand needs to be increased in surplus countries, while in deficit countries, structural reform needs to reduce past divergences
- Cataloging source
- IT-FiEUI
- http://library.link/vocab/creatorName
- Sapir, André
- Index
- no index present
- Literary form
- non fiction
- Nature of contents
-
- dictionaries
- bibliography
- http://library.link/vocab/relatedWorkOrContributorName
-
- Wolff, Guntram
- Bruegel
- Series statement
- Bruegel policy briefs
- Series volume
- 2015
- Label
- Euro-area governance: what to reform and how to do it : what to reform and how to do it, by André Sapir and Guntram B. Wolff, (electronic resource)
- Carrier category
- online resource
- Carrier MARC source
- rdacarrier.
- Content category
- text
- Content type MARC source
- rdacontent.
- Control code
- FIEb17735439
- Extent
- 8 pages.
- Form of item
- electronic
- Media category
- computer
- Media MARC source
- rdamedia.
- Specific material designation
- remote
- System control number
- (OCoLC)1088500275
- Label
- Euro-area governance: what to reform and how to do it : what to reform and how to do it, by André Sapir and Guntram B. Wolff, (electronic resource)
- Carrier category
- online resource
- Carrier MARC source
- rdacarrier.
- Content category
- text
- Content type MARC source
- rdacontent.
- Control code
- FIEb17735439
- Extent
- 8 pages.
- Form of item
- electronic
- Media category
- computer
- Media MARC source
- rdamedia.
- Specific material designation
- remote
- System control number
- (OCoLC)1088500275
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.eui.eu/portal/Euro-area-governance-what-to-reform-and-how-to/aq8JLipwAVo/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.eui.eu/portal/Euro-area-governance-what-to-reform-and-how-to/aq8JLipwAVo/">Euro-area governance: what to reform and how to do it : what to reform and how to do it, by André Sapir and Guntram B. Wolff, (electronic resource)</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.eui.eu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.eui.eu/">European University Institute</a></span></span></span></span></div>
