Dear Colleague,
We cordially invite you to the wiiw seminar 'Policy Perspectives for European Integration' on
Tuesday, 20 September, 2016, 5:00 pm
wiiw, Rahlgasse 3, 1060 Vienna, lecture hall
(entrance from the ground floor)
On the future of EMU: Targeted reforms instead of more fiscal integration
Anna Iara
Policy Coordinator European Commission Secretariat-General,
Europe 2020, European Semester, Economic Governance Unit
Abstract
Our paper contributes to the debate on deepening EMU by taking stock of the past years’ reform achievements and identifying areas where further reform is needed, notably concerning monetary policy, financial regulation, and national fiscal and structural reform. Provided these reforms are taken, we consider the current framework sufficient to sustain without a strict necessity of further fiscal integration (that may still be a policy choice). Our judgement rests on an understanding of the challenges to the euro area to arise from balance of payments crises of its members and the observation that conditions in the euro area today are not representative of the future. Still, broad-based growth is hard to materialise in an environment of debt overhang in some economies: we recognise the need to support the recovery in the euro area, but call for temporary instead of permanent instruments to achieve this aim.
(Papers and presentation slides, as far as available, are posted on our homepage http://wiiw.ac.at/events.html after the respective seminars.)
Best regards,
Univ. Doz. Dr. Robert Stehrer Dr. Sándor Richter
Scientific Director wiiw Organizer
--
Michaela Bönisch
Wiener Institut für Internationale Wirtschaftsvergleiche (wiiw)
The Vienna Institute for International Economic Studies
Rahlgasse 3, A-1060 Wien
T: +43 1 533 66 10 - 40
F: +43 1 533 66 10 - 50
boenisch@wiiw.ac.at
http://www.wiiw.ac.at/
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
If you do not want to receive further mailings
please send an e-mail to boenisch@wiiw.ac.at
Falls Sie keine weiteren Zusendungen des wiiw wünschen
senden Sie bitte ein E-Mail an boenisch@wiiw.ac.at