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How (Not) to Reform the Euro Area's Economic Governance
Author(s) -
Collig Stefan
Publication year - 2013
Publication title -
global policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.602
H-Index - 33
eISSN - 1758-5899
pISSN - 1758-5880
DOI - 10.1111/1758-5899.12055
Subject(s) - contradiction , corporate governance , economic governance , economics , economic and monetary union , european union , economic policy , economic system , keynesian economics , political economy , political science , finance , philosophy , epistemology
European monetary union presents a paradox. On the one hand, despite three years of continuous battering and pounding, the euro still exists. On the other, the crisis has revealed serious flaws in the governance of the Euro Area and it has become clear that the old system of managing the euro macroeconomy is not sustainable. This article attempts to explain this apparent contradiction and how to resolve it.