Euro-area reform [What Think Tanks are thinking]

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Series Details 01.12.17
Publication Date 01/12/2017
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The Euro Summit brings together the heads of state or government of the euro area countries, the Euro Summit President and the President of the European Commission. Euro Summit meetings provide strategic guidelines on euro area economic policy.

For the Euro Summit held on the 15 December 2017 it was decided that the meeting would be held in an inclusive format of 27 member states. The fiscal compact foresaw that all countries that ratified it should participate in Euro Summits when appropriate, and in particular, when discussing the euro area architecture. Given the importance of the discussions, President Tusk also decided to invite Croatia and the Czech Republic to the summit.

The Heads of State or Government of the countries sharing the euro currency planned to hold a summit on 15 December 2017 to discuss ways to improve the functioning of the euro area.

European Council President Donald Tusk, who would chair the Euro Summit, had said that the discussion woukd focus on further steps to complete Banking Union and on setting the direction for deeper euro-area economic integration, with decisions to be taken in June 2018.

European Union Member States which were not members of the 19-nation euro bloc, other than the UK, were also invited to the Euro Summit. Among proposals floated were that the single currency area should have a budget and a finance minister and that the existing euro-area bailout fund, the European Stability Mechanism (ESM), should be transformed into a European Monetary Fund. Germany, in particular, was cautious about far-reaching reforms.

This note brought together commentaries, analyses and studies by major international think tanks and research institutes on euro area reforms and related issues. Earlier publications on the topic can be found in a previous edition of 'What Think Tanks are Thinking' published in July 2017.

Compiler: Marcin Grajewski

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Related Link(s)
Carnegie Europe: Strategic Europe, 01.09.17: Germany and the future of the Eurozone (et al)
Finland: Government, March 2018: Finance ministers from Denmark, Estonia, Finland, Ireland, Latvia , Lithuania, the Netherlands and Sweden underline their shared views and values in the discussion on the architecture of the EMU

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