How to finish the Euro house

This report focuses on how to improve the long-term governance of the eurozone. It addresses four questions. To what extent does the eurozone need common rules, institutions and policies in financial, fiscal, monetary and economic affairs? What should those be? How would eurozone-only institutions interact with EU-wide ones – in particular, what do they mean for Britain? And how should democratic accountability and choice be ensured?

The report argues that while there are a kaleidoscope of potential institutional set-ups for the eurozone and an even greater range of policy settings, only a handful are economically sensible or politically plausible. In effect, there are four possible futures for the eurozone: a Germanic one, a technocratic one, a fiscally federal one and a flexible (or decentralised) one.

ESO: Background information: Saving the euro: Bound towards a tense future http://www.europeansources.info/record/saving-the-euro-bound-towards-a-tense-future/

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