€-Vision

Commentary & analysis with a focus on European economic policy

Pages

  • About Andrew Watt
  • Contact
  • Media and videos
  • Privacy Policy
  • Publications

Search

€-Vision

RSS Feed RSS - Posts

Powered by Genesis

Analysis of the proposal „A constructive approach to Euro Area reform“

February 16, 2018 by andrew36 Leave a Comment

A group of 14 prominent economists, seven each from France and from Germany, has issued a detailed and rather comprehensive proposal for reform of the Euro Area (CEPR 2018).* This is a welcome initiative. There is a window of opportunity for reform in the Euro Area. Economically it has been created by the strengthening and increasingly broad economic upturn: policymakers can leave firefighting mode and focus on structural governance reforms. Politically it has been opened up by the 2015 report by the five presidents of the EU institutions, the initiatives by the new French President Macron, the proposals by the European Commission of December 2017, and, most recently, the declarations of intent on Europe emerging from the grand-coalition talks in Germany.

Together Germany and France account for half of Euro Area GDP. The authors of the report are all well-known in policy-oriented circles, while coming from different traditions. For all these reasons the report is set to be very influential. This appraisal follows the structure of the report itself, examining the underlying philosophy and problem analysis (1), the proposals relating to the financial sector (2), to fiscal governance (3) and finally institutional questions (4). An overall assessment with recommendations for extensions and alternatives concludes (5). [Read more…]

Filed Under: Commentary Tagged With: CEPR, ECB, economic governance, Emmanuel Macron, EMU, EU Commission, Euro Area, Euroreport, fiscal capacity, fiscal rules, France, Germany, Macroeconomic Dialogue, Macroeconomic Imbalance Procedure, Wirtschaftsdienst

Recent Posts

  • Brexit, the personal and the political
  • Macron and Kramp-Karrenbauer: vive la difference!
  • The UK after the draft agreement with the EU27
  • A balanced wage policy is not what it seems
  • Output growth less important than structure for the environment
  • Is the troika responsible for the Greek fire tragedy?
  • Debt rescheduling and the power of exponential growth
  • Merkel and Macron in Meseberg
  • Analysis of the proposal „A constructive approach to Euro Area reform“
  • Unemployment in the Euro Area passes a milestone

Archive

Categories

Tags

Apple austerity Brexit ECB economic governance economic policy elections Emmanuel Macron EMU ESM EU EU Commission euro Euro Area Eurogroup European Commission Eurostat fiscal capacity fiscal policy France GDP Germany globalisation Greece Guardian inequality inflation interest rates Ireland Jean-Claude Juncker Juncker Leave Macron Merkel neoliberalism public spending Pulse of Europe QE race to the bottom Remain Schäuble tax competition UK UK referendum unemployment

Links to content I am involved in

  • My articles on Social Europe
  • IMK (EN pages)
  • iAGS - independent Annual Growth Survey
  • FMM - Research Network Macroeconomics and Macroeconomic Policy
  • Hans-Böckler Stiftung

Recommended links

  1. Mainly macro (Simon Wren-Lewis)
  2. Paul Krugman
  3. econoblog101 (Dirk Ehnts)