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A stronger, growth-oriented surveillance for EMU. EuropEos Commentary No. 1, 19 April 2010

Padoan, Pier Carlo (2010) A stronger, growth-oriented surveillance for EMU. EuropEos Commentary No. 1, 19 April 2010. [Policy Paper]

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    Abstract

    This Commentary finds that the recent adjustment measures taken by the Greek government in combination with the financial support proffered by the Eurogroup may not be sufficient to deal with the risk of instability in EMU in the longer term. The author argues that other imbalances, most notably the current account imbalances within EMU, need to be addressed to avoid a deflation spiral that would aggravate sustainability problems in highly indebted countries. The Greek crisis highlights the need to take steps to strengthen the economic governance of the euro area. A key component of these steps would be a stronger, growth-oriented, surveillance.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on/reforms/economic governance
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > EuropEos Commentaries
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 15 Dec 2014 16:09
    Number of Pages: 2
    Last Modified: 15 Dec 2014 16:09
    URI: http://aei.pitt.edu/id/eprint/58441

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