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Finding common ground A pragmatic budgetary instrument for the euro area Bertelsmann Stiftung Policy Paper 8 February 2019

Funk, Ole and Giuttenberg, Lucas and Hemker, Johannes and Tordoir, Sander (2019) Finding common ground A pragmatic budgetary instrument for the euro area Bertelsmann Stiftung Policy Paper 8 February 2019. [Policy Paper]

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    Abstract

    We outline a pragmatic proposal for a budgetary instrument for the euro area in line with the decision of the December 2018 Euro Summit. It is based on a very simple principle: any new instrument should make the euro area function better as a currency union. This is the only way to justify a euro area instrument in the first place. This principle has two implications. First, duplication of existing tools needs to be avoided at all cost. In the current situation, we see a looming risk of layering a new instrument onto existing programmes such as EU structural funds, to which the new instrument would add no real value. Second, the two objectives set out in the Euro Summit decision – competitiveness and convergence – ought to be operationalized strictly in terms of their contribution to a better functioning of the euro area as a currency union.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > budgets & financing
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bertelsmann Stiftung/Foundation (Gutersloh, Germany) > Policy Paper​
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 25 Feb 2020 14:16
    Number of Pages: 14
    Last Modified: 25 Feb 2020 14:16
    URI: http://aei.pitt.edu/id/eprint/102498

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