Developing the social dimension of a deep and genuine Economic and Monetary Union

Introducing systematic monitoring of key employment and social challenges and strengthening employment and social policy coordination would boost the social dimension of Economic and Monetary Union (EMU). Socio-economic divergence undermines the functioning of currency union, with employment and social crises in individual countries spilling over to others. These must be tackled on a collective basis, based on the European Semester process, stronger policy benchmarks and dedicated fiscal capacity for the EMU, helping to ensure that adequate resources are allocated to tackling employment and social problems in the interests of the euro zone as a whole, writes EU Commissioner for Employment, Social Affairs and Inclusion László Andor in this Policy Brief.