We calculate an quot;enlargedquot; Phillips curve for a theoretical EMU with 12+8 Member States. Both the empirical evidence and the econometric analysis show the worsening of the trade-off between inflation and unemployment, and hence the need to revise, at least temporarily, the stance of the...

Variable geometry ought to imply "variably geometry Europe" as variable geometry or differentiated integration in the European Union has reached its limits. Drawing on the lessons of the Eurozone crisis and of Brexit, this chapter argues that (treaty-based) variable geometry or differentiated...

Potential new entrants to the European Union from Central and Eastern European countries face many challenges to achieve financial convergence with the existing EU nations. Using detailed case studies from Bulgaria, the Czech Republic, Latvia, Lithuania and Poland and analysis of cross country...

This book highlights the achievements and challenges of the ongoing process of financial integration in Europe. This unique collection will be of great interest to economists and experts in the fields of financial markets and European integration from central, commercial and investment banks,...