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2013 | OriginalPaper | Buchkapitel

EMU in Crisis: What’s Next?

verfasst von : Francesco Paolo Mongelli, Ad van Riet

Erschienen in: Public Debt, Global Governance and Economic Dynamism

Verlag: Springer Milan

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Abstract

EMU is in crisis. Yet, there is a firm willingness among policy makers to do whatever it takes to restore trust in the euro. Over the past two years, new EU institutions were introduced, the governance and supervisory framework was overhauled, and a new intergovernmental treaty was signed. Also at the national level, there appears to be a broader understanding of the need for bank restructuring, ambitious fiscal adjustments, and deep structural reforms. Still, the challenges that need to be addressed to restore EMU stability are manifold and formidable. While the transition process is difficult and will take time, the ‘old’ EMU is changing into a ‘new’ EMU at a pace which a few years ago would have been unthinkable.

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Titel: EMU in Crisis: What’s Next?
verfasst von: Francesco Paolo Mongelli
Ad van Riet
Verlag: Springer Milan
Buch: Public Debt, Global Governance and Economic Dynamism
Print ISBN: 978-88-470-5330-4

Electronic ISBN: 978-88-470-5331-1

Copyright-Jahr: 2013
DOI: https://doi.org/10.1007/978-88-470-5331-1_14