{"id":53171,"date":"2023-12-01T18:04:38","date_gmt":"2023-12-01T17:04:38","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/policy-brief-past-and-present-of-emu-reform-reforming-the-euro-area-the-road-not-yet-taken\/"},"modified":"2024-11-07T06:06:29","modified_gmt":"2024-11-07T05:06:29","slug":"policy-brief-past-and-present-of-emu-reform-reforming-the-euro-area-the-road-not-yet-taken","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/53171\/","title":{"rendered":"Policy Brief: Past and Present of EMU Reform. Reforming the Euro Area \u2013 The Road Not (Yet) Taken"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-53171","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Euro area reform has been at the centre of much needed discussions throughout recent years. The euro area crisis has made it clear that significant vulnerabilities still exist in the current architecture of the European Monetary Union. This has opened an intellectual and policy debate on how to make the EMU more crisis-resilient and whether the euro area requires more risk-sharing or more market discipline to this end. Along these lines, numerous proposals have been presented by institutions and academics such as the introduction of a common fiscal policy instrument, possible reforms of the current fiscal rules, the creation of a euro area safe asset to break the sovereign-bank nexus and a common European Deposit Insurance Scheme. This policy brief summarises the discussions and policy proposals for EMU reform of recent years.","onlinedate":"2019-06-19 12:00:00","lang":"English","publication_series":"","publication_date":"20190601","publication_date_year":"","publication_date_full":false,"publication_num_pages":"30","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":377603,"zip":null,"link":"","monthly_report":false,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"","journal":"","publisher":"","invisible":false,"external":false,"embargo_date":"2019-06-19 12:00:00","types":[81966],"research_groups":[3500],"collaboration":"","persons":[3497],"persons_data":"[{\"personId\":3497,\"personName\":\"Atanas Pekanov\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[40979],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_bookanthology rendering_apa rendering_bookanthology_apa\\\"><span>Pekanov, A.<\\\/span> (2019). <span><em>Policy Brief: Past and Present of EMU Reform. Reforming the Euro Area \u2013 The Road Not (Yet) Taken<\\\/em><\\\/span>. WIFO. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/61850\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/61850<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_bookanthology rendering_vancouver rendering_bookanthology_vancouver\\\"><span>Pekanov A<\\\/span>. <span class=\\\"title\\\"><span>Policy Brief: Past and Present of EMU Reform. Reforming the Euro Area \u2013 The Road Not (Yet) Taken<\\\/span><\\\/span>. WIFO; 2019.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_bookanthology rendering_bibtex rendering_bookanthology_bibtex\\\"><div>@book{0d4ba8a4520c4036b354436da5ae9099,<\\\/div><div>  title    = \\\"Policy Brief: Past and Present of EMU Reform. Reforming the Euro Area \u2013 The Road Not (Yet) Taken\\\",<\\\/div><div>  abstract = \\\"Euro area reform has been at the centre of much needed discussions throughout recent years. The euro area crisis has made it clear that significant vulnerabilities still exist in the current architecture of the European Monetary Union. This has opened an intellectual and policy debate on how to make the EMU more crisis-resilient and whether the euro area requires more risk-sharing or more market discipline to this end. Along these lines, numerous proposals have been presented by institutions and academics such as the introduction of a common fiscal policy instrument, possible reforms of the current fiscal rules, the creation of a euro area safe asset to break the sovereign-bank nexus and a common European Deposit Insurance Scheme. This policy brief summarises the discussions and policy proposals for EMU reform of recent years.\\\",<\\\/div><div>  author   = \\\"Atanas Pekanov\\\",<\\\/div><div>  note     = \\\"Past and Present of EMU Reform\\\",<\\\/div><div>  year     = \\\"2019\\\",<\\\/div><div>  month    = jun,<\\\/div><div>  language = \\\"English\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_bookanthology rendering_ris rendering_bookanthology_ris\\\"><p>TY  - BOOK<\\\/p><p>T1  - Policy Brief: Past and Present of EMU Reform. Reforming the Euro Area \u2013 The Road Not (Yet) Taken<\\\/p><p>AU  - Pekanov, Atanas<\\\/p><p>N1  - Past and Present of EMU Reform<\\\/p><p>PY  - 2019\\\/6<\\\/p><p>Y1  - 2019\\\/6<\\\/p><p>N2  - Euro area reform has been at the centre of much needed discussions throughout recent years. The euro area crisis has made it clear that significant vulnerabilities still exist in the current architecture of the European Monetary Union. This has opened an intellectual and policy debate on how to make the EMU more crisis-resilient and whether the euro area requires more risk-sharing or more market discipline to this end. Along these lines, numerous proposals have been presented by institutions and academics such as the introduction of a common fiscal policy instrument, possible reforms of the current fiscal rules, the creation of a euro area safe asset to break the sovereign-bank nexus and a common European Deposit Insurance Scheme. This policy brief summarises the discussions and policy proposals for EMU reform of recent years.<\\\/p><p>AB  - Euro area reform has been at the centre of much needed discussions throughout recent years. The euro area crisis has made it clear that significant vulnerabilities still exist in the current architecture of the European Monetary Union. This has opened an intellectual and policy debate on how to make the EMU more crisis-resilient and whether the euro area requires more risk-sharing or more market discipline to this end. Along these lines, numerous proposals have been presented by institutions and academics such as the introduction of a common fiscal policy instrument, possible reforms of the current fiscal rules, the creation of a euro area safe asset to break the sovereign-bank nexus and a common European Deposit Insurance Scheme. This policy brief summarises the discussions and policy proposals for EMU reform of recent years.<\\\/p><p>M3  - Study<\\\/p><p>BT  - Policy Brief: Past and Present of EMU Reform. Reforming the Euro Area \u2013 The Road Not (Yet) Taken<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Policy Brief: Past and Present of EMU Reform. 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