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Showing posts from August, 2011

Managing the Eurozone

Reading about Sarkzoy, Merkel to invite Van Rompuy to head Eurozone I must say I liked the idea 18 months ago. From a paper published in European View Volume 9, Number 1, 79-92 , DOI: 10.1007/s12290-010-0117-3. Enhance economic coordination. This is a logical requirement to maintain monetary integration. The crisis has shown its mechanisms should be taken much more seriously. In the enforcement of the Stability and Growth Pact the Commission should take advantage of the new provisions in the Lisbon treaty. The pact should be extended with supervision of private debt and the balance of payments. Because economic coordination calls for measures in the member states, the European Council should take the lead in shaping coordinated economic policy and the Commission in overseeing it. The coordination in the Monetary Union should be particularly strong and take place at a prime ministerial level (underlined today). At the time (and now as well) the Monetary Union was handled by an almo