Summary of Economic Policy Coordination in the Economic and Monetary Union

Looking for the report?
We have the summary! Get the key insights in just 5 minutes.

Economic Policy Coordination in the Economic and Monetary Union summary
Start getting smarter:
or see our plans

Rating

6 Overall

6 Importance

7 Innovation

5 Style


Recommendation

How did the integration of Europe’s various national economies become such a mess? Researcher Jørgen Mortensen’s short primer offers a detailed history of contemporary European economic policy, the role of the Economic and Monetary Union (EMU), and the recent ratification of the Treaty on Stability, Coordination and Governance. This is not an easy story to tell; frankly, it’s an alphabet soup of acronyms slow cooked by a bureaucracy that makes the United States’ current political gridlock look speedy by comparison. But Mortensen’s report from The Centre for European Policy Studies succeeds in laying out the complexities of the experiment in multinational political economy that is EMU. Despite its density, getAbstract recommends this treatise to international economic policy makers, investors and corporate finance executives as a refresher on EMU and its seemingly never-ending stream of challenges, past, present and future.

In this summary, you will learn

  • How the European Monetary Union (EMU) came about;
  • How early challenges in handling EU members’ fiscal deficits have resulted in changes to its accords;
  • How the global financial crisis exacerbated EMU’s problems; and
  • What impact the Treaty on Stability, Coordination and Governance can have on maintaining EMU.
 

About the Author

Jørgen Mortensen is an associate senior research fellow at the Centre for European Policy Studies and a research fellow at the Centre for Social and Economic Research.

 

Summary

Past Is Prologue
Early in 2013, the euro zone agreed on a treaty – prolixly titled the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union – that capped the debt and spending of its member governments and set penalties for violators. Only the United Kingdom...

More on this topic

Customers who read this summary also read

We need a European Monetary Fund, but how should it work?
We need a European Monetary Fund, but how should it work?
8
And the Weak Suffer What They Must?
And the Weak Suffer What They Must?
8
State Transformation and the European Integration Project
State Transformation and the European Integration Project
7
Revisiting the Economic Case for Fiscal Union in the Euro Area
Revisiting the Economic Case for Fiscal Union in the Euro Area
7
The Eurozone’s Hidden Strengths
The Eurozone’s Hidden Strengths
8
Brexit
Brexit
8

Related Channels

Comment on this summary