Reinforced Economic Policy Coordination as Crisis Prevention in the Eurozone

• Authors: Becker Peter
• Languages of publication: EN

Abstracts

EN

What is needed mostly is to stabilise economies and to improve economic policy coordination in the EU. Not only do the Member States have to get their budgets in order, they also have to reform their national economies so that they become competitive again. However, this should not become a decision between austerity versus growth or between demand-side versus supply-side economics. It is obvious that Europe needs both, along with sustainable fiscal policies of all Member States, which goes hand in hand with incentives for sustainable growth. Almost all European economies need structural reforms to strengthen their growth potential, to recover domestic demand and to make labour markets more robust. The task for European policy is, hence, to develop real European economic policy reform to tackle weaknesses in some economies, to generate growth, to create more and better jobs, and finally to guarantee the coherence of the European Union as a whole and the democratic legitimacy of these reform measures.

Keywords

EN

Eurozone

• Publisher: Polski Instytut Spraw Międzynarodowych
• Journal: The Polish Quarterly of International Affairs
• Year: 2014
• Issue: 3
• Pages: 19-35

Contributors

author

Becker Peter