Revisiting the Keynes Plan for an International Clearing Union in a Eurozone Perspective
| Autor: | Alkinoos Emmanouil-Kalos |
|---|---|
| Rok vydání: | 2022 |
| Předmět: |
Economic integration
Euro media_common.quotation_subject Keynes Plan International Trade Current Account Balance International economics Current account Order (exchange) State of emergency TARGET2 International political economy Clearing Economics International Political Economy Eurozone Architecture Function (engineering) Bretton Woods ECB media_common |
| Zdroj: | HAPSc Policy Briefs Series; Τόμ. 1 Αρ. 2 (2020): HAPSc Policy Briefs Series; 287-294 HAPSc Policy Briefs Series; Vol. 1 No. 2 (2020): HAPSc Policy Briefs Series; 287-294 |
| ISSN: | 2732-6586 2732-6578 |
| DOI: | 10.6084/m9.figshare.19387490 |
| Popis: | The last decade has been turbulent for the EMU, with many structural weaknesses becoming apparent. While in a state of emergency, the European Central Bank has had to “reinvent” itself in order to stabilize the Eurozone, while the vital importance of the imbalances between the member states has been recognized, as the establishment of the Macroeconomic Imbalances Procedure (MIP) indicates. Yet, it is widely acknowledged that the architecture of the Eurozone needs structural reforms. This policy brief aims to present the case for the adoption of the core ideas of the “Keynes Plan” for an International Clearing Union, which could function as an important first step towards fighting intra-eurozone imbalances, hence strengthening the EMU. Given the existence of the European Central Bank and the common currency, a moderate version of such a plan could be implemented even without the need for any changes in the EU treaties, and could be the stepping stone for further economic integration. |
| Databáze: | OpenAIRE |
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