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Completing the architecture of the Euro

Author(s): Lorenzo Bini Smaghi

Date published: Mar 2017

The paper shows that the lack of a complete institutional framework in the Eurozone is one of the reasons for the disappointing performance over the last few years.This in turn fuels dissatisfaction with the European institutions, because they are not delivering what people expect, leading them to think that we may need less Europe, rather than more Europe. We need to address this catch-22, by further working on a detailed design of a more complete institutional framework for the European Union and by pushing political authorities to be more courageous in implementing reforms. Download Full Text

SUERF Policy Note, No 11SUERF Policy Note, No 11

Completing the architecture of the EuroWeb version: Completing the architecture of the Euro

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