Belke, Ansgar (contributor); Gros, Daniel (contributor) - 2007
policy and reform effort on the one hand and the emergence of intra-Euro area divergences on the other. As a first step, we … increasing because longer-term disequilibria become evident in fiscal and monetary policy, but also because serious divergences … are now appearing within the Euro area which threaten its long-term cohesiveness. The most manifest example of this threat …