Fiscal and financial conditions for a stronger euro area

IF 0.8 Q3 ECONOMICS

European Journal of Economics and Economic Policies-Intervention Pub Date : 2020-09-01 DOI:10.4337/ejeep.2020.02.07

Vítor Constâncio

引用次数: 2

Abstract

The euro is irreversible but it needs reform to address well-known design deficiencies and also new challenges. Although progress has been made, further steps are needed, the most important of which are: revision of the fiscal rules, establishing a central stabilisation capacity, and completing the banking union (especially a deposit insurance, a capital market union based around a common safe asset, and improved macroprudential policy). This article sets out the necessary reforms in these areas in detail.

查看原文本刊更多论文

欧元区的财政和金融状况将更加强劲

欧元是不可逆转的，但它需要改革，以解决众所周知的设计缺陷和新的挑战。尽管取得了进展，但仍需采取进一步措施，其中最重要的是:修订财政规则，建立中央稳定能力，以及完善银行业联盟(尤其是存款保险，一个基于共同安全资产的资本市场联盟，以及改进的宏观审慎政策)。本文详细阐述了这些领域的必要改革。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

European Journal of Economics and Economic Policies-Intervention ECONOMICS-

CiteScore

1.70

自引率

0.00%

发文量

期刊介绍： The European Journal of Economics and Economic Policies: Intervention (EJEEP) is a peer-reviewed journal which serves as a forum for studies in macroeconomic theory, economic institutions and economic policies. The managing editors aim for productive debates involving one or more variants of heterodox economics, and invite contributions acknowledging the pluralism of research approaches. The submission of both theoretical and empirical work is encouraged. The managing editors contend that a wide variety of institutional and social factors shape economic life and economic processes. Only a careful study and integration of such factors into economics will lead to theoretical progress and to competent economic policy recommendations. This was clearly demonstrated by the inadequacy of orthodox economics, based on neoclassical foundations, to provide suitable explanations and responses to recent financial and economic crises.