The economic and financial crisis 2007/08 revealed profound weaknesses of the economic and financial governance framework of the European Union (EU), amongst them the insufficient coordination of EU policies in the field of economic policy. In 2011, EU member states created the European Semester...

1. Introduction -- 2. Asymmetric shocks and heterogeneity following the creation of the EMU -- 3. Prerequisites for coordination and options for its design -- 4. Coordination in the EU before the government-debt crisis -- 5. The expansion of coordination in the EU -- 6. Summary.

Chapter 1. Introduction -- Chapter 2. Designing and Building a European Economy: from the 1930s to 1991 -- Chapter 3. Fiscal Constraints and Supranational Money: From Maastricht (1992) to Lisbon (2007) -- Chapter 4. Steering the Euro across the Crises (2008-2019) -- Chapter 5. Reforming the...