Revue de l'OFCE N° 132 - Grand Format

The 2007 global financial crisis developed from 2009 into a sovereign debt crisis in the euro area. These crises highlighted weaknesses and drawbacks in terms of EU governance which were already there from the beginning. Since 2010, the EU authorities have introduced a number of new mechanisms such as the Euro plus Pact, the Fiscal Pact, the "European semester", the European stability mechanism, and more recently the banking union.
Do these mechanisms improve EU governance ? The EU remains so far an area of low growth and large imbalances. This volume is a release of twelve papers given at the 10th EUROFRAME Conference on economic policies in the European Union, held in Warsaw on 24 May 2013. In this volume, twentyfour economists give and discuss different views on how to improve governance in the EU : stricter fiscal rules and market discipline, redemption fund, fiscal federalism or ECB's guarantee for public debts and more co-ordinated and growth targeted domestic fiscal policies.
Other papers discuss the effects of fiscal policies, the right timing for fiscal consolidation, or propose new resources for the EU budget. This volume wishes to bring together a wide spectrum of contributions to the European debates on how to improve governance in the EU.