Making the euro viable: the Euro Treasury Plan

Artikel

The euro crisis remains unresolved and the euro currency union incomplete and extraordinarily vulnerable. The euro regime's essential flaw and ultimate source of vulnerability is the decoupling of central bank and treasury institutions in the euro currency union. We propose a Euro Treasury scheme to properly fix the regime and resolve the euro crisis. The Euro Treasury Plan would establish a rudimentary fiscal union that is not a transfer union. The core idea is to create a Euro Treasury as a vehicle to pool future eurozone public investment spending and have it funded by proper eurozone treasury securities. The Euro Treasury could fulfil a number of additional purposes while operating mainly on the basis of a strict rule. The plan would also provide a much-needed fiscal boost to recovery and foster a more benign intra-area rebalancing.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: European Journal of Economics and Economic Policies: Intervention (EJEEP) ; ISSN: 2052-7772 ; Volume: 13 ; Year: 2016 ; Issue: 1 ; Pages: 72-86

Classification and Topics

• Classification: Wirtschaft ; Policy Objectives; Policy Designs and Consistency; Policy Coordination ; Fiscal Policy ; National Government Expenditures and Related Policies: Infrastructures; Other Public Investment and Capital Stock ; National Debt; Debt Management; Sovereign Debt
• Subject: Economic and Monetary Union ; euro crisis ; fiscal union ; public investment ; Euro Treasury ; European Central Bank

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Bibow, Jörg
• Event: Veröffentlichung
• (who): Edward Elgar Publishing
• (where): Cheltenham
• (when): 2016

Further information

• DOI: doi:10.4337/ejeep.2016.01.07
• Handle: http://hdl.handle.net/10419/277349
• Last update: 10.03.2025, 11:43 AM CET