Journal of Scientific Papers

ECONOMICS & SOCIOLOGY


© CSR, 2008-2019
ISSN 2071-789X

3.1
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  • General Founder and Publisher:

     
    Centre of Sociological Research

     

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    The journal is co-financed in the years 2022-2024 by the Ministry of Education and Science of the Republic of Poland in the framework of the ministerial programme “Development of Scientific Journals” (RCN) on the basis of contract no. RCN/SN/0668/2021/1 


    University of Szczecin (Poland)

    Széchenyi István University, (Hungary)

    Mykolas Romeris University (Lithuania)

    Alexander Dubcek University of Trencín (Slovak Republic)


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Reforming the Eurozone: Assessment of the reform package by the European Commission – treating symptoms or root causes?

Vol. 11, No 3, 2018

Bodo Herzog,

 

University of Reutlingen, 

Germany,

E-mail: Bodo.Herzog@Reutlingen-University.de

Reforming the Eurozone: Assessment of the reform package by the European Commission – treating symptoms or root causes?

 


 


 

Abstract. The paper studies the reform package proposed by the European Commission on 6 December 2017. First, institutional and economic implications of the reform proposal are analysed. The paper finds that some proposals are beyond the present Treaty provisions. For instance, the proposal of a fiscal capacity does not tackle the economic root causes without a supranational transfer mechanism. In fact, the proposed budget neutrality over the medium-term is unfeasible due to cross-country heterogeneity in the Eurozone. At the end, the paper develops policy conclusions.

 

Received: May, 2018

1st Revision: August, 2018

Accepted: September, 2018

 

DOI: 10.14254/2071-789X.2018/11-3/4

JEL ClassificationP16, Z13, G38, B53, E52, E62, H42

Keywords: EMU, reform, European Monetary Fund, economic governance

 

 

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