EMU and Economic Policy: Prospects for an Inclusive Recovery?
EMU and Economic Policy: Prospects for an Inclusive Recovery?

Author(s): Paweł Tokarski
Subject(s): Supranational / Global Economy, Governance, Economic policy, Economic development, EU-Accession / EU-DEvelopment, Fiscal Politics / Budgeting
Published by: PISM Polski Instytut Spraw Międzynarodowych
Keywords: European Union; Economic and Monetary Union; economic policy; Eurozone; debt crisis; economic growth; economic development;
Summary/Abstract: Despite the current considerable relief in the development of the Eurozone sovereign debt crisis, predicting the EU’s economic future can be a risky venture. Media continue ruthlessly to give new doses of pessimistic information: potential future bailouts, weakening economic conditions, toppling governments, and the growing risk of social unrest. Therefore, any attempt to define more precisely what happens in a week, month or a year, especially in economic terms, carries a high risk of negative verification or at least randomness of judgment. However, some long-term processes do support the attempt to sketch out the upcoming economic challenges for the EU in the next several decades. These challenges can be described in two blocks. First, the consequences of the sovereign debt crisis for the EMU’s architecture, and second, the question of growth and competitiveness.

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