Reconciling Risk Sharing with Market Discipline: A constructive Approach to Euro Area Reform

Improving global governance
Posted Mar 13, 2018 | Centre for Economic Policy Research, Agnès Bénassy-Quéré, Markus Brunnermeier, Henrik Enderlein et al

The euro area faces financial fragility, and lacks adequate institutional conditions and incentives for long-term prosperity. Stabilisation and recovery have relied mainly on monetary easing by the European Central Bank. Authored by Agnès Bénassy-Quéré, Markus Brunnermeier, Henrik Enderlein et al this paper by the Centre for Economic Policy Research proposes six reforms which, if delivered as a package, could improve the Eurozone's financial stability, political cohesion, and potential for delivering prosperity to its citizens, while addressing the priorities and concerns of participating countries.


https://cepr.org/sites/default/files/policy_insights/PolicyInsight91.pdf

 

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