Opinion & Analysis

Euro-area governance: what to reform and how to do it, by G.B. Wolff and A.Sapir

This Policy Brief argues that the Euro-area governance needs to move beyond the improvements brought about by banking union and should establish institutions to prevent divergences of wages from productivity. The authors propose the creation of a European Competitiveness Council composed of national competitiveness councils, and the creation of a Eurosystem of Fiscal Policy.