Stefano Micossi, 07 September 2015

The sovereign debt and banking crises of 2010-12 have led to significant changes in the institutions of the Eurozone. The credibility of common policies regarding budgetary discipline and economic convergence remains weak. This chapter proposes that the way forward is to gradually bring common economic policies under the oversight of the European Parliament and to strengthen the role of the Commission. The picture must be completed with getting national parliaments more involved in the European policy process. The present state of the Eurozone could be seen as a sort of political equilibrium, likely to be economically unstable.

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Examples of specific research areas are: a pan-European database; European growth from the mid-nineteenth century; European growth in the very long run; the history of European integration; Europe's changing position in the world.

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CEPR Policy Research