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Weathering the storm-Fair weather versus stormy-weather governance in the euro area. Bruegel Policy Contribution 2009/03, March 2009

Pisani-Ferry, Jean and Sapir, André. (2009) Weathering the storm-Fair weather versus stormy-weather governance in the euro area. Bruegel Policy Contribution 2009/03, March 2009. [Policy Paper]

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    Abstract

    Jean Pisani-Ferry and André Sapir believe that the euro has proved attractive as a fair-weather currency for countries and investors well beyond its borders. But it still remains to be seen if its governance is strong enough for it to succeed as a stormy-weather currency. The authors already detect, howevever, that the crisis shows the euro-area governance system lacks some crucial properties: speed of reaction, policy discretion and centralised decision-making.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on and consequences/reforms
    EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bruegel (Brussels) > Policy Contributions
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 25 Mar 2009
    Page Range: p. 9
    Last Modified: 08 Apr 2014 11:11
    URI: http://aei.pitt.edu/id/eprint/10570

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