The European Union has lurched from crisis to cure and back to crisis again, without seeming to resolve its prevalent institutional shortcomings. The measures taken to date are undoubtedly insufficient for the long-term stability of the euro zone. Scholars Michiel Bijlsma and Shahin Vallee tread on now-familiar ground in their worthwhile summary of the situation at year-end 2012 as they outline the need for political and economic agreement on reform. They also provide solid recommendations for the way forward. getAbstract recommends their insights to policy makers, executives and observers involved in the euro scene.
In this summary, you will learn
- How the European Union has responded to the need for financial safety nets,
- Where it has fallen short, and
- How it can engineer more effective policies for a robust fiscal and monetary union.
About the Authors
Michiel Bijlsma and Shahin Vallee are visiting fellows at Bruegel, an economic think tank based in Brussels.