CARTEL 25 MAYO

NOTICIAS RELACIONADAS

europa desarrolla musculo estrategico el plan de industrializacion de la ueEl proceso es gradual y casi imperceptible, porque la búsqueda de consensos es difícil, está además escondido bajo un manto de burocracia y tecnocracia casi impenetrable

En el último lustro se ha producido un giro copernicano en cómo las élites europeas ven la relación entre el estado y el mercado. Estamos ante una corriente de fondo hacia una mayor cultura estratégica en la Unión Europea que es muy positiva y que se está analizando poco. Todo lo contrario, impera el derrotismo. Hay una sensación generalizada de que Europa va a salir más débil de la recesión provocada por la pandemia del covid que los EEUU y China. La percepción dominante es que la Unión está demasiado dividida, y que está actuando con lentitud y sin el sentido de urgencia y audacia que requiere la situación de crisis actual.

arttic2The adoption of the Next Generation EU (NGEU) may represent a substantial change in the process of European integration, especially in the reform of the Economic and Monetary Union (EMU), including financial, fiscal and political unions. The NGEU forms part of the EU response to COVID-19, a non-economic and global shock with asymmetric economic effects. Whereas some member states, such as Germany, may return to pre-COVID levels of output in 2021, others might not do so until the end of 2022. In some countries, levels of public debt have reached record highs, deficits are running significantly above 3% of GDP and public accounts are highly unbalanced in structural terms. In such circumstances, strict compliance with the requirements imposed by the Stability and Growth Pact (SGP) would lead to a severe and prolonged economic contraction in the EU. It is hardly surprising therefore that the debate in the EU focuses particularly on reform of the fiscal rules. However, the various elements of EMU governance are intimately interlinked and any proposal for a partial reform should come within the framework of a comprehensive reform of EMU. This paper sets out a series of questions for the EMU reform debate, including the Banking Union, the Capital Markets Union, the European Semester and political union (PU). The aim is to stimulate the debate among Spanish experts to prepare agreed proposals for reforming the economic governance of the EU, especially the SGP.

pdfWP10-2021-MartinezMongay-Feas-Otero-Steinberg-Reforming-governance-Economic-and-MonetaryUnion-the-issues.pdf

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