Today, in the EU we have a supranational monetary policy but not a true federal fiscal union. This institutional asymmetry originated a deflationary bias in the EU which the financial and sovereign debt crisis reinforced. The sole focus on austerity of EU governments and institution has prolonged recession and compromised citizens support to the European integration project. The Chapter argues that a major shift in European policies toward federal integration is necessary and stronger supranational institutions and policies are required. The Chapter concludes presenting feasible alternative European social and economic policies against unemployment aimed at reinforcing solidarity among European citizens and governments.

From and 'austere' monetary union to a federal union: more solidarity among European citizens

FIORENTINI, Riccardo
2015

Abstract

Today, in the EU we have a supranational monetary policy but not a true federal fiscal union. This institutional asymmetry originated a deflationary bias in the EU which the financial and sovereign debt crisis reinforced. The sole focus on austerity of EU governments and institution has prolonged recession and compromised citizens support to the European integration project. The Chapter argues that a major shift in European policies toward federal integration is necessary and stronger supranational institutions and policies are required. The Chapter concludes presenting feasible alternative European social and economic policies against unemployment aimed at reinforcing solidarity among European citizens and governments.
9781138786646
Austerity; European monetary Union; Federal fiscal policy
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11562/766164
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