Contractual arrangements: the overlooked step towards a fiscal union. European Policy Brief No. 18, December 2013


Autoria(s): Bosch, Xavier Vanden
Data(s)

01/12/2013

Resumo

‘Contractual arrangements’ were proposed as an initial step towards a fiscal union that would consolidate the EMU. At this stage, the debate should be centred on the cornerstone of these contracts: the solidarity mechanism. The form of the financial support should not be limited to loans, and include the possibility for grants. Only the countries with the greatest adjustment needs should benefit from the financial support of other countries. This solidarity could be justified in principle by the intensity of the ‘shocks’ they experienced. In this way, contractual arrangement would facilitate the completion of the necessary adjustment in the current crisis – thanks both to more structural reforms and more mutual support within the eurozone.

Formato

application/pdf

Identificador

http://aei.pitt.edu/63541/1/EPB18.pdf

Bosch, Xavier Vanden (2013) Contractual arrangements: the overlooked step towards a fiscal union. European Policy Brief No. 18, December 2013. [Policy Paper]

Relação

http://www.egmontinstitute.be/publication_article/contractual-arrangements-the-overlooked-step-towards-a-fiscal-union/

http://aei.pitt.edu/63541/

Palavras-Chave #EMU/EMS/euro #fiscal policy
Tipo

Policy Paper

NonPeerReviewed