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EMU reform proposals and their (non) implementation: An overview

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  • Eckert, Sandra
  • Lindner, Vincent
  • Nölke, Andreas

Abstract

Following the financial crash and the subsequent recession, European policymakers have undertaken major reforms regarding the European Economic and Monetary Union (EMU). Yet, the success rate is mixed. Several reform proposals have either completely failed due to opposition forces or are still pending, sometimes for years. This article provides an overview of reforms in four major policy fields: financial stabilisation, economic governance, fiscal solidarity, and cooperative dissolution. Building on the conceptual foundation of policy analysis, it distinguishes between policy outputs and outcomes. Policy output refers to legislation being adopted or agreement on treaty changes, while policy outcomes depict the result from the implementation process.

Suggested Citation

  • Eckert, Sandra & Lindner, Vincent & Nölke, Andreas, 2020. "EMU reform proposals and their (non) implementation: An overview," SAFE White Paper Series 78, Leibniz Institute for Financial Research SAFE.
    • Handle: RePEc:zbw:safewh:78
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    References listed on IDEAS

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