Publication

This paper explores how the European Economic and Monetary Union (EMU) is revamping its regulatory and operating framework in the wake of the crises affecting various member states. The paper includes a review of the regulatory and operating framework originally enforced by the EMU on its members and the main reason why it was not efficient in preventing the recent national crises. In particular, the author discusses Germany's position in the debate and the important and hotly debated reform initiative led by the German government.