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On the tasks of the European Stability Mechanism. CEPS Policy Brief No. 235, 8 March 2011

Micossi, Stefano. and Carmassi, Jacopo and Pierce, Fabrizia. (2011) On the tasks of the European Stability Mechanism. CEPS Policy Brief No. 235, 8 March 2011. [Policy Paper]

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    Abstract

    At its forthcoming spring meeting, on March 24th-25th, the European Council will consider a comprehensive package of measures that can open a new age of European economic governance: one that is truly collective; capable of enforcing economic policy coordination and preventing the build-up of unsustainable imbalances in government as well as private balance sheets; and backed up by credible, quasi-automatic sanctions for any member state posing a threat to collective stability. This CEPS Policy Brief aims to contribute to Council deliberations first by clarifying the proper role of EU financial assistance to member states confronted with sovereign debt crises and second, by outlining the tasks that the new European Stability Mechanism (ESM) should be able to perform in order to put in place an effective and credible crisis management system for both the eurozone and the European Union.

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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
    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: 21 Mar 2011 09:35
    Number of Pages: 12
    Last Modified: 21 Mar 2011 09:35
    URI: http://aei.pitt.edu/id/eprint/30039

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