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Designing a Fiscal Capacity for the Euro-zone

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Maria João RODRIGUES
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Policy Study

09/10/2014

Despite important economic policy developments in the Eurozone since 2010 and despite some signs of recovery, we cannot say the crisis is over. Many problems ike low growth, rising unemployment, unsustainable debt levels in some Member States or delayed restructuring of banks are still there. 

What is missing to really overcome this crisis? Why do we need to develop a fiscal capacity in the Eurozone? Which should be the features of this fiscal capacity? What kind of New Deal is necessary to complete the Economic and Monetary Union? These are the key issues addressed by this paper by Maria João Rodrigues, exploring new solutions for a debate which will come.

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