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Reform proposals for the euro zone
This Tribune by Jacques Delors and Henrik Enderlein is based on the main findings of the report of the Tommaso Padoa-Schioppa’s group. It contains the key elements of analysis of an article published by the two authors in the German newspaper Die Zeit.
Both authors think it is necessary to ask ourselves, in pragmatic terms, what supplementary measures on the path to integration need to be adopted in order for the euro to function properly. They suggest on the one hand to pursue the completion of the internal market and on the other hand to take measures to compensate for a part of the cyclical disparity existing within the euro zone.
Another challenge lies in the balance to be found between a single monetary union and national fiscal policies within a monetary union. To that end, they suggest a “federalism by exception” for the euro zone and the creation of a European Debt Agency (EDA).
It would be beneficial to complete the euro through rapid-impact reforms and through a political compromise regulating shared sovereignty in the euro zone.
This Tribune contains the key elements of analysis of an article published by the two authors in the German newspaper Die Zeit.
SUR LE MÊME THÈME
ON THE SAME THEME
PUBLICATIONS
The war in Ukraine:
what are the consequences for European organisations?
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/boussole.png)
After Brexit, euro-denominated derivatives transactions should leave the City
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/blogpostbleu.png)
The Euro as seen by citizens who do not yet have it
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/blogpostbleu.png)
MÉDIAS
MEDIAS
L’Irlandais Paschal Donohoe reconduit à la présidence de l’Eurogroupe
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/articlebleu.png)
Il y a vingt ans, l’arrivée des premiers euros
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/podcastbleu.png)
« L’hétérogénéité croissante de la zone euro menace sa cohésion »
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ÉVÉNEMENTS
EVENTS
Paris, 12 April 2019 – Session no.6 of the Académie Notre Europe: economic and monetary Union
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Berlin, 19 September 2018 – Making Europe’s Economic Union Work
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/evenementbleu.png)
Luxembourg, 20 June 2018 – The reform of the EMU: which social dimension?
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/evenementbleu.png)
Paris, 20 June 2018 – Future Europe
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/interventionblanc.png)
Nicosia, 16 March 2018 – The political landscape of EMU reform
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/interventionblanc.png)
Sofia, 9 March 2018 – The future of the EU budget
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/interventionblanc.png)
Athens, 8 February 2018 – Athens’ days: Greece, paths for hope
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/interventionblanc.png)
Bruxelles, 25 January 2018 – Academy study trip to Brussels
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/evenementbleu.png)
Paris, 8 December 2017 – Academy: Political and Social Europe
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/evenementbleu.png)
Barcelona, 22 September 2017 – After the crisis, a push forward for the eurozone
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/interventionblanc.png)
Paris, 21 July 2017 – The future of the Eurozone and the Multiannual Financial Framework
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/interventionblanc.png)
Rome, 20 March 2017 – Completing economic governance and enhancing social cohesion
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/interventionblanc.png)
Lisbon, 24th January – High-level seminar on the future of the euro
![](https://institutdelors.eu/wp-content/themes/Avada-Child-Theme/images/interventionblanc.png)