Towards a Genuine Economic and Monetary Union—Comments on a Roadmap

Detalhes bibliográficos
Autor(a) principal: Belke, Ansgar
Data de Publicação: 2013
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: https://doi.org/10.17645/pag.v1i1.90
Resumo: The Van Rompuy Report and also additional proposals made by the European Commission outlined steps for a 'genuine Economic and Monetary Union'. This article explains, assesses and comments on the proposals made. Moreover, it outlines what could be recommendations in order to achieve a 'genuine Economic and Monetary Union'. For this purpose, details of the Interim Report are systematically evaluated. We also deal with different governance visions emerging from the ongoing euro area crisis and starts from different views of the 'North and the South' of the euro area on this issue. This contribution argues that there is an alternative option to the notion of cooperative fiscal federalism involving fiscal union, bailouts and debt mutualisation: competition-based fiscal federalism accompanied by a properly defined banking union. In order to be a successful one, any deal will have to come up with a successful recipe of how to (re-)create trust between European citizens and their elected governments.
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spelling Towards a Genuine Economic and Monetary Union—Comments on a Roadmapbanking union; debt mutualisation; EU governance; Euro budget; Eurozone; genuine Economic and Monetary Union; North–South divide; shock absorberThe Van Rompuy Report and also additional proposals made by the European Commission outlined steps for a 'genuine Economic and Monetary Union'. This article explains, assesses and comments on the proposals made. Moreover, it outlines what could be recommendations in order to achieve a 'genuine Economic and Monetary Union'. For this purpose, details of the Interim Report are systematically evaluated. We also deal with different governance visions emerging from the ongoing euro area crisis and starts from different views of the 'North and the South' of the euro area on this issue. This contribution argues that there is an alternative option to the notion of cooperative fiscal federalism involving fiscal union, bailouts and debt mutualisation: competition-based fiscal federalism accompanied by a properly defined banking union. In order to be a successful one, any deal will have to come up with a successful recipe of how to (re-)create trust between European citizens and their elected governments.Cogitatio2013-05-17info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttps://doi.org/10.17645/pag.v1i1.90oai:ojs.cogitatiopress.com:article/90Politics and Governance; Vol 1, No 1 (2013); 48-652183-2463reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAPenghttps://www.cogitatiopress.com/politicsandgovernance/article/view/90https://doi.org/10.17645/pag.v1i1.90https://www.cogitatiopress.com/politicsandgovernance/article/view/90/69Belke, Ansgarinfo:eu-repo/semantics/openAccess2022-12-22T15:16:10Zoai:ojs.cogitatiopress.com:article/90Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:22:15.735541Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Towards a Genuine Economic and Monetary Union—Comments on a Roadmap
title Towards a Genuine Economic and Monetary Union—Comments on a Roadmap
spellingShingle Towards a Genuine Economic and Monetary Union—Comments on a Roadmap
Belke, Ansgar
banking union; debt mutualisation; EU governance; Euro budget; Eurozone; genuine Economic and Monetary Union; North–South divide; shock absorber
title_short Towards a Genuine Economic and Monetary Union—Comments on a Roadmap
title_full Towards a Genuine Economic and Monetary Union—Comments on a Roadmap
title_fullStr Towards a Genuine Economic and Monetary Union—Comments on a Roadmap
title_full_unstemmed Towards a Genuine Economic and Monetary Union—Comments on a Roadmap
title_sort Towards a Genuine Economic and Monetary Union—Comments on a Roadmap
author Belke, Ansgar
author_facet Belke, Ansgar
author_role author
dc.contributor.author.fl_str_mv Belke, Ansgar
dc.subject.por.fl_str_mv banking union; debt mutualisation; EU governance; Euro budget; Eurozone; genuine Economic and Monetary Union; North–South divide; shock absorber
topic banking union; debt mutualisation; EU governance; Euro budget; Eurozone; genuine Economic and Monetary Union; North–South divide; shock absorber
description The Van Rompuy Report and also additional proposals made by the European Commission outlined steps for a 'genuine Economic and Monetary Union'. This article explains, assesses and comments on the proposals made. Moreover, it outlines what could be recommendations in order to achieve a 'genuine Economic and Monetary Union'. For this purpose, details of the Interim Report are systematically evaluated. We also deal with different governance visions emerging from the ongoing euro area crisis and starts from different views of the 'North and the South' of the euro area on this issue. This contribution argues that there is an alternative option to the notion of cooperative fiscal federalism involving fiscal union, bailouts and debt mutualisation: competition-based fiscal federalism accompanied by a properly defined banking union. In order to be a successful one, any deal will have to come up with a successful recipe of how to (re-)create trust between European citizens and their elected governments.
publishDate 2013
dc.date.none.fl_str_mv 2013-05-17
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dc.publisher.none.fl_str_mv Cogitatio
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dc.source.none.fl_str_mv Politics and Governance; Vol 1, No 1 (2013); 48-65
2183-2463
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