Rebuilding Euro Governance
Europe’s sovereign-debt problems have prompted a search for more effective approaches to economic governance in the EU, particularly in the eurozone. A task force chaired by President Hermann van Rompuy will submit its final report in October, but we can anticipate its conclusions in the light of the current system’s major shortcomings.
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COPENHAGEN – Europe’s sovereign-debt problems have prompted a search for more effective approaches to economic governance in the European Union, particularly in the euro area. Having mounted exceptional efforts, first to provide financing for Greece’s adjustment program, and then to create a safety net for other distressed countries, the European Council established a task force, chaired by President Herman van Rompuy and composed largely of EU finance ministers, to make proposals for reform.