Reconciling risk sharing with market discipline: a constructive approach to euro area reform
Center for Economic Policy Research (CEPR), Policy Insight, 2018/91
BÉNASSY-QUÉRÉ, Agnès, BRUNNERMEIER, Markus, ENDERLEIN, Henrik, FARHI, Emmanuel, FRATZSCHER, Marcel, FUEST, Clemens, GOURINCHAS, Pierre-Olivier, MARTIN, Philippe, PISANI-FERRY, Jean, REY, Helene, SCHNABEL, Isabel, VERON, Nicolas, WEDER DI MAURO, Beatrice, ZETTELMEYER, Jeromin, Reconciling risk sharing with market discipline: a constructive approach to euro area reform, Center for Economic Policy Research (CEPR), Policy Insight, 2018/91 - https://hdl.handle.net/1814/50904
Retrieved from Cadmus, EUI Research Repository
The euro area continues to suffer from critical weaknesses that are the result of a poorly designed fiscal and financial architecture, but its members are divided on how to address the problems. This paper proposes six reforms which, if delivered as a package, would improve the euro area’s financial stability, political cohesion, and potential for delivering prosperity to its citizens, all while addressing the priorities and concerns of participating countries.
Cadmus permanent link: https://hdl.handle.net/1814/50904
Series/Number: Center for Economic Policy Research (CEPR); Policy Insight; 2018/91