At its 10th anniversary the EMU had to stand the baptism of fire caused by the "Great Recession" 2009. By and large it …

analysis suggests that, given EMU's present political-economic set-up, i) the bail-out was unavoidable, ii) the lengthy process … with a future moral hazard problem. Based on our analysis, we suggest that the EMU's institutional design could be improved … negotiation processes as well as the conditions and parameters on which the scope and limits of fiscal redistribution in EMU …

This paper focuses on roots of strain in the European Monetary Union (EMU). It argues that there is need for a thorough …-connectedness. Moreover, the EMU was sub-optimal from its debut and competitiveness gaps did not diminish against the backdrop of its … private sector and poor lending by banks, as well as a one-sided monetary policy, also explain this debacle. The EMU needs to …

central role in the debate on deepening Economic and Monetary Union (EMU). We evaluate a broad range of options, their impact …

particularly interesting testing ground for the benefits of the EMU. The average growth rates were rather similar before the Great … fared somewhat better than Finland in the EMU period. We assess the effects of the regime choice by simulating the behaviour … joined the EMU in 1999. The simulation exercise suggests that the independent monetary regime reduced the impact of the …

A withdrawal of a member state from the EMU due to market pressure has been a rather popular topic in the public debate … the report, the effects of the potential withdrawal of Greece, one of the weakest economies in the EMU, is studied first …

research focused particularly on the impact of the emerging EMU and on the application of the CAP, Structural Funds and the …