The existence of Economic and Monetary Union creates a rather eccentric approach of the monetary and fiscal policy. While the European Central Bank’s monetary policy targets price stability union-wide, the fiscal policies have a national character and may have pro-cyclical effects. The large imbalance between the monetary and fiscal policies is a source of vulnerability towards achieving the European Union’s objectives. More
The future of Europe is the major concern of the European institutions, mainly in the context of increasing nationalism and populism around the continent that culminated in Brexit. Long debates and many comments were had, but not so many new ideas. The problems with which our continent is struggling are not new and the quest for pragmatic solution is not at an end. More
The years 2008 and 2020 saw two global crises with important similarities, which evoked numerous comparisons. I shall briefly sketch differences and similarities between these two global crises and the European Union response. This comparison will help us understand how European Union’s institutions are learning and adapting their reaction to the volatile environment. More
