Marco Buti, Maya Jollès, Matteo Salto, (2019) “The euro – a tale of 20 years: The priorities going forward”, VoxEU, 19 February
The launch of the Economic and Monetary Union in 1999 was a considerable challenge and a historic milestone. The first decade of its existence firmly established the euro as a credible construction. As this column describes, however, from 2008 onwards the economic and financial crisis in Europe laid bare the weaknesses of its initial construct. Some assumptions behind the EMU institutional setting had to be reconsidered and, in the following years, considerable efforts were made to strengthen the EMU. To complete the job, we need to rebuild trust and overcome the creditors/debtors divide.
Relevant Posts
- Jurgen Stark, (2018), «The Eurozone’s Solidarity Fallacy», Project Syndicate, 17 December
- Ferdinando Guigliano, (2017), «The Euro Zone Needs More Than a New Roadmap», Bloomberg View, 15 December