No Escape from Politics: Four Tests for a Successful Fiscal Instrument in the Euro Area

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Series Details Number 220
Publication Date 26/03/2018
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With his proposal for a euro area budget, Emmanuel Macron has put a common fiscal Instrument back at the center of the euro area reform debate. The discussion about whether or not the euro area needs more fiscal integration may be older than the currency union itself, but there is good reason to believe that the coming months will be a critical juncture for European fiscal policy.

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