In this paper, sound public finances under the euro means sustainability in the long term instead of short- and medium …-term fiscal discipline. The challenges to sustainability are identified for the four largest euro area member states, and several … resort for a euro area government under liquidity shortage to prevent it from developing into a general financial crisis …

This paper reviews the performance of the euro area since the euro's launch 20 years ago. It argues that the euro … crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances … unemployment continue to plague euro crisis countries. Its huge current account surplus highlights that the euro currency union …

The conflicting standpoints on reforming the euro are creating more controversies than practical results. Mistrust …, reforming the euro successfully calls for a convincing high-level commitment to preserve the euro also in unexpected …

Union (EMU) ; Euro ; seignorage ; seignorage pooling ; seignorage change ; pool bias …

This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the …

The euro crisis remains unresolved even as financial markets may seem calm for now. The current euro regime is … the euro are assessed and found lacking. A "Euro Treasury" scheme operating on a strict rule and specifically designed not … to be a transfer union is proposed here as a condition sine qua non for healing the euro's potentially fatal birth …

-making of the euro zone needs to be improved so as to rely less on national legitimacy inputs and more on its own direct source … analysis of the rules regarding the economic policy coordination, convergence and governance of the euro area, is carried out …