While
the European Heads of States and Governments, institutions, and social partners
meet at the High level conference on youth employment in Paris, Notre Europe
– Jacques Delors Institute publishes a
Policy Paper on these issues, by Maria João
Rodrigues, member of our board of directors.

After
having presented what kind of divergences exist in the EU and in the euro area in
this context, the author assess the EU tool box to cope with these divergences and
proposes solutions to brake them. She also answers the questions about the
possibility for monetary integration to work without fiscal capacity or what
kind of fiscal capacity is needed in the EMU and how to build it up. She finally asserts we need to
re-balance the conditions to get financial support and proposes an alternative
policy-mix in order to do so.