The latest collection of briefing papers for the European Parliament’s Monetary Dialogue with the ECB are available here (click on 30.11.2010). One set of papers (including one by me) discusses a package of proposals put forward by the European Commission involving changes to the Stability and Growth Pact. The other papers discuss the issue of so-called currency wars.
Category: EMU
Paul Krugman has a written a blogpost commenting favourably on Kevin O’Rourke’s recent blogpost on irisheconomy.ie.
There are obvious difficulties and constraints on monetary policy in the 16-member Eurozone compared to more fully integrated currency zones like the fifty states of the USA, the ten provinces of Canada, etc. But could the lack of integration in the 16-member eurozone be used advantageously for some types of policies?
I have a letter in the FT today responding to Martin Wolf’s article yesterday: you can read it here.
Martin Wolf analyses the structural flaws in the design of EMU in this article.