Rebooting Europe: Closer fiscal cooperation needed
AuthorPissarides, Christopher A.
SourceGeneva Reports on the World Economy
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There are certain conditions needed to make a common currency across diverse economies a success and the Eurozone is clearly not satisfying them. This column argues that institutions and policies in place six years after the debt crisis have mitigated the risks of another Great Recession. But they have not done enough to alleviate the need for fiscal transfers in the future. We need ever-closer fiscal cooperation, with some caveats. © CEPR Press, 2016.