2018, Volume 71 - Issue 3
RSS feed citation: At RePEc
Publication date: 03 August 2018
IL FUTURO DELL'EUROPA: PROSPETTIVE ECONOMICHE E SOCIALI - WELCOME ADDRESSRead the article
WHY A EUROZONE COLLAPSE SHOULD NOT BE A SURPRISE: THE ROLE OF GERMANY AND GREECERead the article
FINANCIAL CRISIS, BANKING SECTOR PERFORMANCE AND ECONOMIC GROWTH IN THE EUROPEAN UNIONRead the article
FIXING THE EUROZONE SETUP: ON VIABLE FORMS OF FISCAL UNIONRead the article
AMONG THE CENTRAL AND EASTERN EUROPEAN COUNTRIES OF THE EUROPEAN UNION, WHO GAINED AND WHO LOST?Read the article
Luca GANDULLIA, Department of Political Sciences, University of Genova, Italy
Franco PRAUSSELLO, Department of Political Sciences, University of Genova, Italy
There is a growing consensus that the eurozone configuration requires substantial reforms, but member countries have vastly different views on the issues that should be addressed and the specific reforms to be implemented. A number of limited and sometimes unbalanced packages concerning fiscal coordination, the Banking Union and a European Monetary Fund have yet to be completed and a more ambitious effort concerning a Fiscal Union is still in the stage of a laborious political debate. In this paper, we focus on reform proposals that can deliver effective results by discussing different forms of Fiscal Union and looking for one that is more likely to survive the conflicting point of views of the different eurozone members. Finding that an unemployment insurance scheme is the more plausible short-term step to bolster the current reform efforts, we discuss different alternative implementation strategies for such a scheme. We conclude that a scheme with direct payments to the unemployed is the most effective approach to equip the eurozone with central shock absorption capacity while taking into account political feasibility, and that scientific literature provides appropriate backstops and conditionalities to prevent moral hazard.
E62, F02, F45, H87
EMU, Fiscal Union, European Unemployment Insurance
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