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Revisiting the Economic Case for Fiscal Union in the Euro Area
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Revisiting the Economic Case for Fiscal Union in the Euro Area

Helge Berger, Giovanni Dell'Ariccia and Maurice Obstfeld
IMF, 2018
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Editorial Rating

7

Qualities

  • Analytical
  • For Experts
  • Hot Topic

Recommendation

The ambitious edifice of the EU’s Economic and Monetary Union (EMU) remains unfinished. According to economists Helge Berger, Giovanni Dell’Ariccia, and Maurice Obstfeld, progress along several fronts is essential to its completion. Any solutions will entail legal, operational and political challenges, but a failure to act, the authors caution, will keep the region susceptible to further crises. getAbstract suggests this informative though dense, granular analysis to policy experts, economists and executives for its timely look at the future of EMU.

Take-Aways

  • European Union officials have stopped making headway on the project of Economic and Monetary Union (EMU). 
  • The lack of a fiscal alliance leaves Europe prone to external economic shocks that could spread internally and re-endanger the bloc’s existence.  
  • Authorities should complete the establishment of the banking union while coming up with a way to deal with existing bad loans. 

About the Authors

Helge Berger, Giovanni Dell’Ariccia and Maurice Obstfeld are economists at the International Monetary Fund.

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