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Home » Incontri » Archivio » Incontri con personaggi di alto livello » Lessons learned and the future of the Economic and Monetary Union (EMU)
Lunedì, 18 Dicembre 2017
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martedì, 05 dicembre 2017 - BRUXELLES

Lessons learned and the future of the Economic and Monetary Union (EMU)


The EMU is an integral part of the work to complete the internal market. It led to the introduction of a single currency, a European monetary policy and implied greater coordination and surveillance of Member States’ economic, employment and budgetary policies at European level, with a commitment to avoid excessive budgetary deficits.

With the financial crisis however, the EMU’s governance revealed its weaknesses and the Euro Area and the European Union have consequently been overhauling the system since.

Reforms have included an improved mechanism to coordinate fiscal policies, new procedures to correct economic imbalances and the establishment of a banking union with a framework for the recovery and resolution of troubled banks.

Lessons have been learned, defects in the currency union have been recognized and the eurozone currently is in a much better shape than it was before the crisis. However, much work still needs to be done in order to stabilize the currency union, to improve convergence and integration and the conditions for growth and employment. President Dijsselbloem, who has overseen all those evolutions, will be sharing his views on enhancing EMU’s resilience and on improving the Euro Area’s governance for the future of the Economic and Monetary Union.

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Relatori

  • Jeroen Dijsselbloem

    President of the Eurogroup and President of the Board of Governors of the European Stability Mechanism