Revisiting the Economic Case for Fiscal Union in the Euro Area
Summary:
The book examines the rationale and potential design for a fiscal union within the Eurozone, analyzing the economic benefits and challenges of deeper fiscal integration. It discusses mechanisms for risk-sharing and fiscal discipline, considering the historical context and the need for institutional reforms to enhance the stability and resilience of the currency union.
Key points:
1. Euro Area Issues: The book notes that without a shared budget, Eurozone countries can't manage economic differences well, risking the area's unity.
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