Demertzis, Maria; Wolff, Guntram B. - 2016
investment in the EU. With these, this step would create a re-insurance framework to help euro-area countries absorb large shocks …. We consider a review of the EU budget and additional resources as conditions for this scenario. A system of check and … substantial government spending to the central level. This would allow euro-area fiscal stabilisation to be fully centralised. To …