Euro Crisis and the EMU Institutional Reforms

• Autorzy: Jarosław Kundera
• Języki publikacji: EN

Abstrakty

EN

The main goal of this article is to find the answer for the question about the necessary reform to be undertaken in the EU to save the euro as a common currency. The author envisages three scenarios of the euro area's future development. In his opinion, the most probable one are the institutional reforms in the euro area. The essential element of the reform is to establish a proper mix between the ECB' monetary policy and fiscal policies in the member states. All proposed steps against the euro crisis are mutually correlated: monetary integration requires stricter fiscal integration, fiscal integration requires banking union, but banking union is going to require some form of a political union. This way the debt crisis in the euro area may present an opportunity to renew the strength of the European institutions. (orignal abstract)

Słowa kluczowe

EN

Economic and Monetary Union (EMU); Currency crisis; Euro; Monetary Policy of the ECB; Currency reform; Euro crisis

PL

Unia Gospodarcza i Walutowa (UGW); Kryzys walutowy; Euro; Polityka pieniężna Europejskiego Banku Centralnego; Reforma walutowa; Kryzys euro

• Czasopismo: Equilibrium
• Rocznik: 2013
• Tom: 8
• Numer: nr 1
• Strony: 7--31

Twórcy

autor

Jarosław Kundera

• Wrocław University of Economics, Poland

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