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 …

This paper describes the institutional flaws that led to the euro crisis, assesses the institutional reforms that were … European monetary union. In mid-2017, growth in the euro area appears to be finally picking up after 10 years of recessions and … architecture. On the contrary, these quieter times offer a good occasion to reflect on the future of euro-area institutions and to …