A European New Deal
The only way out of the euro crisis is a New Deal for Europe, with governance at its heart. Europe’s transfer union must give way to a genuine fiscal union, which implies EU resources and policies that are sufficient to correct the monetary union’s inevitable asymmetries.
https://prosyn.org/3pHJd5B
FLORENCE/ANN ARBOR – The eurozone has reached a crossroads. European policy prescriptions have proven inadequate, and there is no consensus on the right balance of fiscal consolidation and economic stimulus – or on how much fiscal solidarity a functioning monetary union requires.