The Eurogroup needed a highest-common-factor agreement to match the coronavirus crisis but intergovernmentalism left it with the lowest common denominator.
Finally a eurozone budget, probably the wrong one
A eurozone budget is an idea whose time, at last, may have come. But what is on the table contains familiar flaws.
Growing Eurozone Inequality And What To Do About It
Growing inequality between eurozone members is one of the least welcome legacies of the euro- and sovereign debt crisis. The idea that the less well-off member states would catch up with the better-off in terms of GDP per capita was one of the great promises of the Maastricht Treaty, although very little emphasis is given […]
Renewing Franco-German Axis: Challenges For Eurozone Reform
If approved, the results of the agreement in principle (German text here) on the renewal of the Grand Coalition in Germany could be an important milestone in stabilising the Eurozone. In essence, they give the green light to a good portion of French President Emmanuel Macron’s proposal to turn the European Stability Mechanism (ESM) into […]