Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

A European fiscal union: the case for a larger central budget

A European fiscal union: the case for a larger central budget Econ Polit (2016) 33:1–8 DOI 10.1007/s40888-016-0026-2 EDITORIAL A European fiscal union: the case for a larger central budget Carlo Cottarelli Published online: 19 February 2016 Springer International Publishing Switzerland 2016 1 Introduction The future of European Union—and more specifically euro-area institutions—was at the center of a heated policy debate during 2011–2012, when the euro-area faced its deepest crisis since its birth. One key event during that period was the publication, on December 5, 2012, of the report ‘‘Towards a Genuine Economic and Monetary Union’’ authored by the so-called ‘‘four presidents’’ (Van Rompuy, Barroso, Juncker e Draghi) which identified four pillars on which a ‘‘stable and prosperous’’ monetary union could be built (see European Commission 2012). One of these pillars—together with the banking union (or, more precisely an ‘‘integrated financial framework’’), the integrated economic policy framework, and the strengthening of democratic legitimacy—was the ‘‘fiscal union’’—at least this is the term used by many to refer to it, although more precisely the report referred to the achievement of an ‘‘integrated budgetary framework ensuring both sound national budgetary policies and greater resilience to economic shocks of the euro area as a whole’’. Since then, progress has been made in all these areas, http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png "Economia Politica" Springer Journals

A European fiscal union: the case for a larger central budget

Cottarelli, Carlo
"Economia Politica" , Volume 33 (1): 8 – Apr 1, 2016
Download PDF
8 pages

Loading next page...
 
/lp/springer-journals/a-european-fiscal-union-the-case-for-a-larger-central-budget-2VFDP7qgIX

References (11)

Publisher
Springer Journals
Copyright
2016 Springer International Publishing Switzerland
ISSN
1120-2890
eISSN
1973-820X
DOI
10.1007/s40888-016-0026-2
Publisher site
See Article on Publisher Site

Abstract

Econ Polit (2016) 33:1–8 DOI 10.1007/s40888-016-0026-2 EDITORIAL A European fiscal union: the case for a larger central budget Carlo Cottarelli Published online: 19 February 2016 Springer International Publishing Switzerland 2016 1 Introduction The future of European Union—and more specifically euro-area institutions—was at the center of a heated policy debate during 2011–2012, when the euro-area faced its deepest crisis since its birth. One key event during that period was the publication, on December 5, 2012, of the report ‘‘Towards a Genuine Economic and Monetary Union’’ authored by the so-called ‘‘four presidents’’ (Van Rompuy, Barroso, Juncker e Draghi) which identified four pillars on which a ‘‘stable and prosperous’’ monetary union could be built (see European Commission 2012). One of these pillars—together with the banking union (or, more precisely an ‘‘integrated financial framework’’), the integrated economic policy framework, and the strengthening of democratic legitimacy—was the ‘‘fiscal union’’—at least this is the term used by many to refer to it, although more precisely the report referred to the achievement of an ‘‘integrated budgetary framework ensuring both sound national budgetary policies and greater resilience to economic shocks of the euro area as a whole’’. Since then, progress has been made in all these areas,

Journal

"Economia Politica" – Springer Journals

Published: Apr 1, 2016

Keywords: Economic Policy; International Political Economy

There are no references for this article.