The euro became an international currency when it was created two decades ago. However, the euro's internationalisation … peaked as early as 2005 and it was never comparable to the US dollar. Its international status declined with the euro crisis …, Europe is reflecting on how to promote actively the internationalisation of the euro, to help ensure its autonomy. But …

stronger fiscal rules in euro area members reduce sovereign risk premia, in particular in times of market stress. To do so, we … ; sovereign spreads ; sovereign risk ; euro area …

The single market is often perceived as the panacea for Europe's economic troubles. It is believed that completing the … single market would boost welfare, stimulate growth and increase European competitiveness. However, identifying and … quantifying the channels through which market integration is expected to engender growth is methodologically complex. Although the …

. Illustrative stress tests using banks' balance sheet data reveal that significant stress prevails in the euro area's smaller and … substantially worse on the stock market. The vulnerable banks are typically hobbled by non-performing loans to European businesses …

result from the working of the single market, which like international trade is also an exclusive competence of the EU. …