Policy paper
Seizing the Moment for Euro Area Reform
In this Policy Paper, the authors set out their proposals for a staged but lasting and workable reform. The recommendations are based on a longer report that a working group published at the end of 2016. You can find the full report entitled “Repair and Prepare: Growth and the Euro after Brexit” here.
The election of Emmanuel Macron as French President gave renewed hope to proponents of the European integration project after the blow of Brexit. There is now a momentum that euro area member states could agree on the view that the euro is incomplete and cannot last without major reforms.
In this Policy Paper, our president Enrico Letta, Henrik Enderlein, Director of our office in Germany, the Jacques Delors Institut – Berlin and Aart De Geus, President and CEO of the Bertelsmann Stiftung) set out their proposals for a staged but lasting and workable reform at the moment when the Commission publishes its reflexion paper on the deepening on the Economic and Monetary Union. They propose a comprehensive reform strategy based on three building blocks:
– a first aid kit consisting of a reinforced European Stability Mechanism (ESM+), an enhanced Banking Union and better economic policy coordination under improved democratic control;
– a more targeted structural reform agenda combined with a comprehensive investment initiative;
– a major reform of EMU for the long term, involving significant risk- and sovereignty-sharing within a coherent and legitimate framework of supranational economic governance.
These recommendations are based on a longer report that a working group published at the end of 2016. You can find the full report entitled “Repair and Prepare: Growth and the Euro after Brexit” here.
This publication is part of “Repair and prepare: Strengthen the Euro”, a larger research project of the Bertelsmann Stiftung and the Jacques Delors Institut – Berlin on the future of the euro. More information can be found here.
SUR LE MÊME THÈME
ON THE SAME THEME
PUBLICATIONS
The war in Ukraine:
what are the consequences for European organisations?
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After Brexit, euro-denominated derivatives transactions should leave the City
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The Euro as seen by citizens who do not yet have it
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MÉDIAS
MEDIAS
L’Irlandais Paschal Donohoe reconduit à la présidence de l’Eurogroupe
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Il y a vingt ans, l’arrivée des premiers euros
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« L’hétérogénéité croissante de la zone euro menace sa cohésion »
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Pourquoi la sortie de l’euro n’est plus un slogan politique
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Andreas Eisl: «Les euros ont permis de comparer les pouvoirs d’achat»
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Two decades on, euro can’t shake reputation as price driver
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L’impression tenace de s’être fait berner sur les prix avec l’euro
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L’euro, une construction encore inachevée
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L’euro, une construction encore inachevée
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The Brussels Briefing of the Financial Times has taken a look at some of our ideas for the new European Commission
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The Euro Area reform – Enrico Letta in El Diaro
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The eurozone reform and what the EU can do better – E. Letta in The Federalist
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A budget for the euro area ? – Eulalia Rubio in La Croix
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Enrico Letta in BergamoNews about the euro crisis and the migratory phenomenon
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Pascal Lamy in La Dépêche: “Il faut intégrer davantage la zone euro”
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Yves Bertoncini on France Info: Où en est vraiment l’europhophie en Allemagne, PaysBas et Hongrie ?
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Yves Bertoncini in L’Opinion: “La peur peut favoriser l’unité des Européens”
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Enrico Letta on Public Sénat : Euro, terrorism, migrants, Brexit
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Our report “Repair and prepare: growth and the euro after Brexit” in Géopolis
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Our report “Repair and prepare: growth and the euro after Brexit” in Financial Times
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Pascal Lamy on Le Parisien Magazine: “Faut-il sauver la peau de l’euro ?”
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Our report “Repair and prepare: growth and the euro after Brexit” in Deutsche Welle
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Our report “Repair and prepare: growth and the euro after Brexit” in Les Echos
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Our report “Repair and prepare: growth and the euro after Brexit” in Il Sole 24 Ore
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Our report “Repair and prepare: growth and the euro after Brexit” in Reuters
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Antonio Vitorino on Observador : Socialistas em busca de nova “arma secreta” para o combate à desigualdade
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