Coming of Age: Report on the Economic Governance of the Euro Area: Report on the Euro Area - Softcover

Nearly 20 years after the Delors Report provided the blueprint for Economic and Monetary Union, fifteen years after the ratification of the Maastricht Treaty, and almost ten years after the launch of the euro, EMU still looks like unfinished business. In many ways the euro is a major success, yet there is also dissatisfaction with the way the euro area performs. Disappointing economic performance, disagreements about governance, recent dramatic developments in international financial markets and major changes in the external environment all raise questions about what reforms are needed in EMU policies and in the governance of the euro area. With more countries preparing to join the euro, there is a need for clarity on what EMU is about, and what it should become. This report is a contribution to that discussion.

Philippe Aghion is Professor of Economics at Harvard University and Non-Resident Senior Fellow at Bruegel. Alan Ahearne is Vice Dean for Research at the JE Cairns Graduate School of Business and Public Policy at the National University of Ireland, Galway, and Non-Resident Fellow at Bruegel. Marek Belka is Professor of Economics at the University of Lodz and Executive Secretary of the UN Economic Commission for Europe. He is also a former Prime Minister of Poland. Jürgen von Hagen is Professor of Economics at the University of Bonn and Non-Resident Fellow at Bruegel. Lars Heikensten is a Doctor of Economics and a Member of the European Court of Auditors. He was also previously governor of the Swedish Central Bank. Jean Pisani-Ferry is Director of Bruegel and Professor at Université Paris-Dauphine. André Sapir is Professor of Economics at the Université Libre de Bruxelles and Senior Fellow at Bruegel.