Fahrholz, Christian and Wojci, Cezary. (2010) The European Council Summit and the Political Economics of the EMU Crisis. CEPS Policy Brief No. 217, 9 November 2010. [Policy Paper]
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Abstract
The Conclusions of the European Council on 28-29 October 2010 suggest the need for further consultations among the member states to design a "permanent crisis mechanism" to safeguard the euro area as a whole. This paper finds that the weakness of the current EMU governance is that it neither provides sufficient incentives for curtailing excessive lending and indebtedness, nor secures the level of political integration necessary to attain a sufficient degree of accountability in fiscal affairs. Any solution must address these two major flaws.
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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/reforms/economic governance EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro EU policies and themes > EU institutions & developments > European Council |
| Subjects for EU documents: | UNSPECIFIED |
| EU Series and Periodicals: | UNSPECIFIED |
| EU Annual Reports: | UNSPECIFIED |
| Series: | Series > Centre for European Policy Studies (Brussels) > CEPS Policy Briefs |
| Depositing User: | Phil Wilkin |
| Official EU Document: | No |
| Language: | English |
| Date Deposited: | 10 Nov 2010 |
| Page Range: | p. 4 |
| Last Modified: | 15 Feb 2011 18:38 |
| URI: | http://aei.pitt.edu/id/eprint/15140 |
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