Grégory Claeys, 24 May 2018

In their recent Policy Insight, the team of French and German authors suggest introducing sovereign bond-backed securities to play the role of safe asset in the euro area. This column, part of the VoxEU debate on euro area reform, argues that an improved euro area architecture would, in the long run, make all euro area sovereign bonds safer, and thus make the provision of safe assets through untested and potentially disruptive sovereign bond-backed securities unnecessary.

Jeffry Frieden, 23 May 2018

For the euro area to be stable and move forward productively, substantial improvements in its operation are required. This column, part of the VoxEU Euro Area Reform debate, argues that the proposals in the recent CEPR Policy Insight are necessary if the euro area is to avoid another catastrophic crisis and that they would go a long way towards addressing the legitimate concerns of citizens in both the core and periphery of the euro area.

Thomas Wieser, 21 May 2018

The proposals on fiscal frameworks and rules in the recent CEPR Policy Insight on euro area reform showcase the multiple dimensions of the fundamental dilemmas we are confronted with in the governance of the euro area. This column, part of the VoxEU debate on Euro Area Reform, looks at the challenges to the central role of the Commission that have arisen as the rules-based fiscal framework has been severely compromised.

Peter Bofinger, 15 May 2018

The recent proposals for euro area reform from a team of French and German economists have initiated an intensive debate. This column, part of VoxEU's Euro Area Reform debate, argues that the specific insolvency risk of euro area membership is the main risk that should be covered by joint risk sharing, and that the modest proposals for public and private risk sharing are insufficient in this regard.

Jacopo Carmassi, Johanne Evrard, Laura Parisi, Michael Wedow, 09 May 2018

Recent months have seen many proposals for alternative designs for a European Deposit Insurance Scheme that would cater for concerns that such a scheme would lead to some banking sectors having to bear the costs of bank failures in other member states. This column, adding to VoxEU's Euro Area Reform debate, asks whether these concerns are well founded.

Andrew Watt, 23 April 2018

There is currently both an economic and a political window of opportunity for reform in the euro area. This column, which forms part of VoxEU's Euro Area Reform debate, discusses the strengths and weaknesses of the proposals in the recent CEPR Policy Insight and makes recommendations for extensions and alternatives.

Emmanuel Farhi, Philippe Martin, 19 April 2018

One criticism of the recent CEPR Policy Insight on euro area reform is its supposed silence on the role of the ECB. In this column,  which we add to VoxEU's Euro Area Reform debate, two of the authors of the Policy Insight argue that the reforms proposed in it actually have significant implications for the ECB’s role, in a way that would make it easier for the ECB to fulfill its mandate.

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