scholarly journals Just Round the Corner? Pros, Cons, and Implementation Issues of a Fiscal Union for the Euro Area

2014 ◽  
Author(s):  
Fabrizio Balassone ◽  
Sandro Momigliano ◽  
Marzia Romanelli ◽  
Pietro Tommasino
Keyword(s):  
Euro Area ◽  
Fiscal Union

scholarly journals Designing a fiscal union for the euro area

2017 ◽  
Vol 16 (4) ◽  
pp. 413
Author(s):  
Magdalena Kąkol
Keyword(s):  
Euro Area ◽  
Fiscal Union

scholarly journals Towards a Genuine Economic and Monetary Union—Comments on a Roadmap

2013 ◽  
Vol 1 (1) ◽  
pp. 48-65 ◽  
Author(s):  
Ansgar Belke
Keyword(s):  
European Commission ◽  
Monetary Union ◽  
Euro Area ◽  
Fiscal Federalism ◽  
Economic And Monetary Union ◽  
Banking Union ◽  
Interim Report ◽  
Fiscal Union ◽  
The North ◽  
To Come

The Van Rompuy Report and also additional proposals made by the European Commission outlined steps for a 'genuine Economic and Monetary Union'. This article explains, assesses and comments on the proposals made. Moreover, it outlines what could be recommendations in order to achieve a 'genuine Economic and Monetary Union'. For this purpose, details of the Interim Report are systematically evaluated. We also deal with different governance visions emerging from the ongoing euro area crisis and starts from different views of the 'North and the South' of the euro area on this issue. This contribution argues that there is an alternative option to the notion of cooperative fiscal federalism involving fiscal union, bailouts and debt mutualisation: competition-based fiscal federalism accompanied by a properly defined banking union. In order to be a successful one, any deal will have to come up with a successful recipe of how to (re-)create trust between European citizens and their elected governments.

scholarly journals Toward A Fiscal Union for the Euro Area

2013 ◽  
Vol 13 (9) ◽  
pp. 1 ◽  
Author(s):  
Céline Allard ◽  
Petya Koeva Brooks ◽  
John Bluedorn ◽  
Fabian Bornhorst ◽  
Franziska Ohnsorge ◽  
...  
Keyword(s):  
Euro Area ◽  
Fiscal Union

The Common Framework for National Fiscal Policies and the Euro Area Fiscal Union

2017 ◽  
pp. 11-49
Author(s):  
Antonella Cavallo ◽  
Pietro Dallari ◽  
Antonio Ribba
Keyword(s):  
Euro Area ◽  
Fiscal Policies ◽  
Fiscal Union ◽  
Common Framework ◽  
The Common

scholarly journals The Only Feasible Fiscal Union for the Euro Area

European View ◽  
2017 ◽  
Vol 16 (1) ◽  
pp. 23-32 ◽  
Author(s):  
Miguel Marín Cózar
Keyword(s):  
Euro Area ◽  
Fiscal Union

scholarly journals Just Round the Corner? Pros, Cons, and Implementation Issues of a Fiscal Union for the Euro Area

2018 ◽  
pp. 5-34 ◽  
Author(s):  
Fabrizio Balassone ◽  
Sandro Momigliano ◽  
Marzia Romanelli ◽  
Pietro Tommasino
Keyword(s):  
Euro Area ◽  
Fiscal Union

Euro-area risks remain despite Greek breakthrough

2015 ◽  
Keyword(s):  
Financial Markets ◽  
Euro Area ◽  
Bond Markets ◽  
Government Bond ◽  
Fiscal Union ◽  
Content Type ◽  
Government Bond Markets

Significance Impacts Despite a dramatic deterioration in Greece's relations with its creditors, financial markets have remained relatively unconcerned. The sharp sell-off in government bond markets since mid-April stems almost entirely from exaggerated fears about deflation, not Greece. Tensions over Greece reflect broader weaknesses in the euro-area stemming from a lack of support for political and fiscal union.

How to solve the sovereign debt crisis in the euro area?

2018 ◽  
pp. 58-74 ◽  
Author(s):  
Justyna Sikora
Keyword(s):  
Monetary Union ◽  
Euro Area ◽  
Financial Distress ◽  
Sovereign Debt ◽  
Fiscal Federalism ◽  
Debt Crisis ◽  
Descriptive Analysis ◽  
Sovereign Debt Crisis ◽  
Lender Of Last Resort ◽  
Fiscal Union

The sovereign debt crisis in the euro area (EA) highlighted shortcomings of its institutional framework – establishment of a monetary union without a central fiscal policy. Although the economic governance in the EA was substantially reformed in the aftermath of the crisis to address its weaknesses, further reforms including some elements of fiscal union are needed to increase resilience of the Economic and Monetary Union to shocks and prevent emergence of economic and financial distress in the future. Based on the theory of fiscal federalism, the article analyses potential institutional reforms aimed at solving the sovereign debt crisis in the EA and indicates which proposals are desired and possible to implement. The research method used is a descriptive analysis of reforms proposed in the literature. In the article, the following reform proposals were assessed: the Debt Redemption Fund, European bonds, assigning the European Central Bank the role of the lender of last resort and a fiscal union with an EA fiscal capacity.

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