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Steering the Euro Across the Crises (2008–2019)

In: European Economic Governance

Author

Listed:
  • Fabio Masini

    (Roma Tre University)

Abstract

Critiques from academics to the economic governance architecture of the euro area had been emerging also before the US-led financial crisis burst out. When the global financial crisis turned into a eurozone sovereign debts crisis, they transformed into pressing issues. This chapter dwells on the emergence and evolution of the current architecture of the European economic governance established after those two crises. It shows how increasing intergovernmentalism pushed towards even stricter fiscal rules, thus widening the gap between public sentiment and political decisions. We shall also follow the role of scholarly debates in suggesting compromises that might make the European economy more resilient and collective decision-making more effective in tackling both domestic and global challenges, until Covid-19 obliged to a suspension of fiscal rules and to a dramatic rethinking of the whole European economic institutions, policies, and governance.

Suggested Citation

  • Fabio Masini, 2022. "Steering the Euro Across the Crises (2008–2019)," Springer Books, in: European Economic Governance, chapter 0, pages 75-119, Springer.
  • Handle: RePEc:spr:sprchp:978-3-031-13094-6_4
    DOI: 10.1007/978-3-031-13094-6_4
    as

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