New CEPR eBook 'Strengthening the Institutional Architecture of the Economic and Monetary Union'
A new eBook from CEPR, with contributions from leading European economists, addresses the institutional weaknesses of the Economic and Monetary Union (EMU), and suggests reforms to strengthen the institutional architecture in line with the EMU deepening agenda.
Born out of a Directorate General for Economy and Finance of the European Commission (DG ECFIN) workshop on strengthening the institutional architecture of the EMU, held in September 2019, this eBook, edited by Marco Buti (Head of Cabinet of Commissioner Paolo Gentiloni, previously Director General for Economic and Financial Affairs at the European Commission), Gabriele Giudice (Head of the unit working on EMU Deepening and the Macroeconomy of the Euro Area), and José Leandro (the EU Director at the European Bank for Reconstruction and Development, previously Director for Policy, Strategy and Communication at DG ECFIN), presents the main ideas discussed, addresses the key challenges and the future of EMU’s institutional architecture, and suggests future reforms that can deliver sustainable progress on the institutional set-up of EMU. Although the workshop pre-dated the crisis, the discussions covered in this eBook are now more relevant than ever.
Key topics centre around whether – and for what purpose – the creation of a euro area treasury could be part of a revamped institutional architecture and if the introduction of a European Minister or High Representative for Economy and Finance could potentially improve the flow of information and streamline the political behaviour of the main actors in EMU, as well as rebalancing EMU and endowing it with solid institutions on the economic side.
Read the Vox Column here.