Publication

This report features articles on the eurozone crisis that started in 2008, whether there were basic flaws in the design of European Monetary System (EMS) that contributed to the extent of the crisis, and how to improve economic governance in the euro area. Among other issues, the articles focus on 1) the evolution of the Economic and Monetary Union (EMU) system in Europe since the crisis; 2) how to build a sustainable eurozone; 3) EMU governance and fiscal policy coordination in Europe; and 4) whether the eurozone's economic governance can combine political accountability, legitimacy and effectiveness.