Show simple item record Crowe, Richard 2018-09-26T16:03:55Z 2018-09-26T16:03:55Z 2018-05
dc.description.abstract The sovereign debt crisis served to highlight the limitations of trying to use a Union budget in which all Member States participate to perform functions corresponding to a monetary union in which not all Member States participate. In this context, a debate has arisen about whether the Eurozone should rather have its own budget, separate from the Union budget. There are good arguments to support the view that a new budgetary capacity should be developed at European level to support the monetary union, but this paper defends the view that it is preferable to develop such a capacity within the Union budget, or, to the extent that this is not yet feasible, to keep it as closely aligned to the Union budget as possible. In this respect, the Commission’s latest EMU and MFF proposals are a welcome first step in seeking to pursue such an integrative approach, within the constraints of the current Treaties. Looking to the future, a European public finance convention could be considered to prepare more ambitious reforms, including targeted treaty revisions, for adoption in the 2020s.
dc.description.sponsorship The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries ADEMU Working Paper Series;120
dc.rights This is an Open Access article distributed under the terms of the Creative Commons Attribution License Creative Commons Attribution 4.0 International, which permits unrestricted use, distribution and reproduction in any medium provided that the original work is properlyattributed.
dc.subject.other Eurozone budget
dc.subject.other Fiscal capacity
dc.subject.other Budgetary capacity
dc.subject.other EMU
dc.subject.other EU budget
dc.subject.other MFF
dc.title Is a separate eurozone budget a good idea?
dc.type info:eu-repo/semantics/workingPaper
dc.relation.projectID info:eu-repo/grantAgreement/EC/H2020/649396
dc.rights.accessRights info:eu-repo/semantics/openAccess


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