The aim of this paper is to assess the effectiveness of risk sharing mechanisms in the euro
area and whether a supranational fiscal risk sharing mechanism could insure countries …

“A Community fiscal stabilisation policy is a key element in any programme for European
monetary integration.” This sentence, taken out of the MacDougall report that the …

This article seeks to situate and explain the European Union's push for a Capital Markets
Union–and thus for a more market-based financial system–in the broader context of …

ABSTRACT The European Union (EU) has been conceptualized as a regulatory state, ie, an
emerging polity that differs from the classic Westphalian state. Unable to engage in …

The long-term decline in gross public investment in European Union countries mirrors the
trend in other advanced economies, but recent developments have been different: public …

This contribution develops a blueprint for a European fiscal union. We argue that a viable
European fiscal union can be constructed without joint liability for public debt or a …

We analyze three questions related to the EU/EMU integration infrastructure:(i) interrelation
between monetary and fiscal integration;(ii) interrelation between monetary integration and …

The European Council has outlined the creation of a Single Resolution Mechanism (SRM),
complementing the Single Supervisory Mechanism. The thinking on the SRM's legal basis …

In the wake of the euro area crisis, the debate on instruments to deepen economic
integration among its members has intensified, among others putting forward a fiscal …

[Conclusion] The necessity of establishing a fiscal capacity at the European level in order to
smooth asymmetric shocks in EMU is largely based on the theory of optimum currency …