How to make the Eurozone a perfect union
Cecchetti and Schoenholtz consider the importance and plausibility of the four measures that could secure the long-term viability of the monetary union. These are: a) the formation of a European Deposit Insurance Scheme (EDIS); b) the creation of a European safe asset; c) the construction of a “genuine” capital market union; and d) the introduction of a significant fiscal capacity.
To Form a More Perfect Union
By: Stephen G. Cecchetti, Kermit L. Schoenholtz – Brandeis University, New York University
The populist wave is set to continue
Our evidence has implications for the speed of construction of political unions. A slow, staged process of political unification can expose the EU to a risk of political backlash if hard to manage shocks hit the economies during the integration process.
Global Crises and Populism: the Role of Eurozone Institutions
Authors: L. Guiso, H. Herrera, M. Morelli, T. Sonno
From: Einaudi Institute for Economics and Finance, Warwick University, Bocconi University, LSE
