EMU 2.0: Drawing Lessons from the Crisis: To enhance stability and growth in the economic and monetary union - Softcover

Papaspyrou, Theodoros

Softcover

ISBN 10: 3659780537 ISBN 13: 9783659780530

Publisher: LAP LAMBERT Academic Publishing, 2015

Synopsis

From the analysis of the emergence and the management of the global and the sovereign debt crisis useful lessons can be drawn for the design of public policy at EU and national level. After some initial weaknesses in policy action, decisive initiatives by EU authorities, supported by significant progress to strengthen further economic and financial governance and reduce macroeconomic imbalances, succeeded in preserving the stability and integrity of the euro area. While the priority given by the EU policy action to financial stability was fully justified, it is also clear that robust economic growth is essential for durable financial stability and overall welfare. Policies enhancing both stability and growth are possible in EMU and some of them have started being implemented, while others are at an advance state of development. There is ample scope for national economic policies which, if well-designed and properly implemented, will enhance the growth potential of member countries. However, legacy problems such as the excessive government debt burden in some countries must be resolved.

About this title

About the Author

Theodoros Papaspyrou is currently Adviser at the Bank of Greece and previously worked as economist at the European Commission, Directorate General for Economic and Financial Affairs. He studied and got degrees in economics from the Universities of Athens and London.His research interests concern European economic and monetary integration and policy

Edition details

• Publisher: LAP LAMBERT Academic Publishing
• Publication date: 2015
• Language: English
• ISBN 10: 3659780537
• ISBN 13: 9783659780530
• Binding: Paperback
• Number of pages: 56