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/reforms/economic governance 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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