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The false promise of a eurozone budget. CEPS Commentary, 7 December 2012

Gros, Daniel. (2012) The false promise of a eurozone budget. CEPS Commentary, 7 December 2012. [Policy Paper]

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    Abstract

    n this new CEPS commentary, CEPS Director Daniel Gros takes a closer look at the US experience to point out that the federal budget provides much less insurance against state specific shocks than widely assumed, while the US Banking Union act as a very powerful shock absorber. Accordingly, he argues that the euro’s long-term stability depends far more on completing plans for a European banking union than on the introduction of a fiscal capacity for the eurozone.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > External relations > EU-US
    EU policies and themes > Policies & related activities > budgets & financing
    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) > CEPS Commentaries
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 10 Dec 2012 11:20
    Number of Pages: 2
    Last Modified: 17 Jan 2013 09:14
    URI: http://aei.pitt.edu/id/eprint/38162

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