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Deeper Integration of Economic and Monetary Union

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  • Stefan Ederer
  • Stefan Weingärtner

Abstract

The economic crisis has laid open deficiencies in the construction of the European Economic and Monetary Union (EMU). As a consequence, the European Council and the Commission have proposed reforms for the completion of EMU. In a first step towards an integrated Banking Union, a lighter version of a common bank supervision has been agreed. However, key elements to secure the stability of the euro area are still missing. Measures taken under the acute pressure of the crisis are confined to structural reforms and have de facto suspended the operation of automatic stabilisers in the crisis countries.

Suggested Citation

  • Stefan Ederer & Stefan Weingärtner, 2013. "Deeper Integration of Economic and Monetary Union," Austrian Economic Quarterly, WIFO, vol. 18(3), pages 135-148, August.
    • Handle: RePEc:wfo:wquart:y:2013:i:3:p:135-148
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    References listed on IDEAS

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    1. Stefan Ederer, 2011. "Europäische Währungsunion in der Krise," WIFO Monatsberichte (monthly reports), WIFO, vol. 84(12), pages 783-796, December.
    2. Paul de Grauwe, 2013. "Design Failures in the Eurozone: Can they be fixed?," Europe in Question Discussion Paper Series of the London School of Economics (LEQs) 7, London School of Economics / European Institute.
    3. Handler, Heinz, 2013. "The eurozone: piecemeal approach to an optimum currency area," MPRA Paper 67183, University Library of Munich, Germany.
    4. Daniel Gros, 2013. "Banking union with a sovereign virus," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 48(2), pages 93-97, March.
    5. De Grauwe, Paul, 2016. "Economics of Monetary Union," OUP Catalogue, Oxford University Press, edition 11, number 9780198739876.
    6. Stefan Ederer & Jürgen Janger, 2010. "Wachstums- und Beschäftigungspolitik in Österreich unter europäischen Rahmenbedingungen," WIFO Studies, WIFO, number 41042, February.
    7. Stefan Ederer, 2010. "Ungleichgewichte im Euro-Raum," WIFO Monatsberichte (monthly reports), WIFO, vol. 83(7), pages 589-602, July.
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    Cited by:

    1. Stefan Ederer & Peter Reschenhofer, 2013. "Macroeconomic Imbalances in the EU. WWWforEurope Working Paper No. 42," WIFO Studies, WIFO, number 47017, February.
    2. Stefan Ederer, 2015. "Macroeconomic Imbalances and Institutional Reforms in the EMU. WWWforEurope Working Paper No. 87," WIFO Studies, WIFO, number 57896, February.

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