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Description of  Challenges and Opportunities for the Eurozone Governance

1536134740 pdf The recent global financial crisis and its impacts on the Eurozone have been the subject of many studies, mostly emphasizing the economic dimension. However, the different patterns of responses to the crisis delivered by countries and institutions reflect very distinct political stands. For a broad and coherent vision of the Eurozone crisis and of the exposed limitations of its governance model, one should use the lens of economic analysis on the interfaces of the various interconnected macroeconomic variables. But one should also take into account the features related to decision making processes and resource allocation in a multilevel governance framework, which the crisis has highlighted and has put on the international agenda. However, in spite of many meritorious efforts, relevant challenges still remain and must be faced for the sake of a more resilient EMU, namely: the completion of the banking union, which is aimed at strengthening the integrity of the euro and the risk sharing Read more