- 期刊
REFORMING THE EUROZONE: ASSESSMENT OF THE REFORM PACKAGE BY THE EUROPEAN COMMISSION - TREATING SYMPTOMS OR ROOT CAUSES?
摘要
The paper studies the reform package proposed by the European Commission on 6 December 2017. First, institutional and economic implications of the reform proposal are analysed. The paper finds that some proposals are beyond the present Treaty provisions. For instance, the proposal of a fiscal capacity does not tackle the economic root causes without a supranational transfer mechanism. In fact, the proposed budget neutrality over the medium-term is unfeasible due to cross-country heterogeneity in the Eurozone. At the end, the paper develops policy conclusions.
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