EGMONT - The Royal Institute for International Relations
Abstract:
The idea of introducing contracts between Member States and the EU on structural reforms has its merits, it also has several disadvantages. Most notably, the contracts risk rendering European economic governance even more complex and cumbersome. It is therefore sensible to first try to integrate the structural reform contracts into one of the foreseen economic governance instruments.
Topic:
Economics, International Trade and Finance, Regional Cooperation, Governance, and Reform
EGMONT - The Royal Institute for International Relations
Abstract:
The euro is a rather unusual currency as it is shared by a union of largely independent states. This results in a single supranational monetary union, while most 'economic' matters are decided on a national level. A key challenge in such a system is to ensure that the different levels of decision-making do not undermine the advantages of the common currency. For this reason, the European monetary union has been buttressed by economic integration, resulting in the Economic and Monetary Union (EMU).
Topic:
Debt, Economics, Monetary Policy, Financial Crisis, and Governance
EGMONT - The Royal Institute for International Relations
Abstract:
In order to obtain financial sector stability, adequate financial regulation and supervision are paramount. Despite their crucial role, both failed to prevent or at least mitigate the financial crisis. While financial regulation strives to impose a set of rules that ensure a safe and resilient financial sector, it has proven to contain too many gaps and loopholes.
Topic:
Debt, Economics, Markets, Monetary Policy, Financial Crisis, and Governance