Summary of Revisiting the Economic Case for Fiscal Union in the Euro Area

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

Revisiting the Economic Case for Fiscal Union in the Euro Area summary
Start getting smarter:
or see our plans




The ambitious edifice of the EU’s Economic and Monetary Union (EMU) remains unfinished. According to economists Helge Berger, Giovanni Dell’Ariccia, and Maurice Obstfeld, progress along several fronts is essential to its completion. Any solutions will entail legal, operational and political challenges, but a failure to act, the authors caution, will keep the region susceptible to further crises. getAbstract suggests this informative though dense, granular analysis to policy experts, economists and executives for its timely look at the future of EMU.

About the Authors

Helge BergerGiovanni Dell’Ariccia and Maurice Obstfeld are economists at the International Monetary Fund.



In the aftermath of the European debt crisis and the region’s subsequent economic recovery, European Union officials stopped making headway on the project of Economic and Monetary Union (EMU). The lack of a fiscal alliance leaves Europe prone to external economic shocks that could spread internally and re-endanger the bloc’s existence. The euro places constraints on economic adjustments within member countries, and group monetary policy is unable to counter individual members’ economic jolts. A now-strong economy masks underlying vulnerabilities that are likely to recur...

More on this topic

Customers who read this summary also read

An Effective Economic Response to the Coronavirus in Europe
EU Debt as Insurance Against Catastrophic Events in the Euro Area
Global Waves of Debt
World Economic Outlook, July 2019
Why has COVID-19 hit different European Union economies so differently?
Why Does Everyone Hate MMT?

Related Channels

Comment on this summary