Saturday , January 16 2021
Home / Bruegel Think Thank / Building a Euro-area Budget Inside the EU Budget: Squaring the Circle?

Building a Euro-area Budget Inside the EU Budget: Squaring the Circle?

Summary:
As part of a volume on the Multiannual Financial Framework, the EUI recently published a chapter by Grégory Claeys on the creation of a euro area budget within the EU's budget. By: Grégory Claeys Date: December 1, 2020 Topic: European Macroeconomics & Governance This chapter was originally published on CADMUS for the European University Institute This chapter, part of an edited volume on the EU Multiannual Financial Framework 2021-2027, is the outcome a conference held in mid-October 2019 on initiative by the Robert Schuman Centre for Advanced Studies at the European University Institute of Florence. Abstract This paper explores how a budget for the euro area might be established within the European Union budget as part of the 2021-2027 Multiannual Financial Framework. The

Topics:
Grégory Claeys considers the following as important: , , ,

This could be interesting, too:

André Sapir writes The double irony of the new UK-EU trade relationship

Grégory Claeys, Mia Hoffmann and Guntram B. Wolff writes Corporate insolvencies during COVID-19: keeping calm before the storm

G. C. and M. D. writes The productivity paradox: policy lessons from MICROPROD

Z. D. writes When the future changes the past: fiscal indicator revisions

As part of a volume on the Multiannual Financial Framework, the EUI recently published a chapter by Grégory Claeys on the creation of a euro area budget within the EU's budget.

By: Date: December 1, 2020 Topic: European Macroeconomics & Governance

This chapter was originally published on CADMUS for the European University Institute

Building a Euro-area Budget Inside the EU Budget: Squaring the Circle?

This chapter, part of an edited volume on the EU Multiannual Financial Framework 2021-2027, is the outcome a conference held in mid-October 2019 on initiative by the Robert Schuman Centre for Advanced Studies at the European University Institute of Florence.

Abstract

This paper explores how a budget for the euro area might be established within the European Union budget as part of the 2021-2027 Multiannual Financial Framework. The author first discusses what budgetary tool the euro area needs and what essential characteristics it should have. They then compare these with the characteristics of the ‘Budgetary Instrument for Competitiveness and Convergence’ agreed upon by the Eurogroup in 2019. They conclude that in its current form this new instrument, which has been labelled a ‘mini revolution’, will most probably be inadequate to deal with the most important challenges facing the euro area.

Grégory Claeys
Grégory Claeys, a French and Spanish citizen, joined Bruegel as a research fellow in February 2014. Grégory’s research interests include international macroeconomics and finance, central banking and European governance. From 2006 to 2009 Grégory worked as a macroeconomist in the Economic Research Department of the French bank Crédit Agricole.

Leave a Reply

Your email address will not be published. Required fields are marked *