Safeguarding the Euro as a Currency Beyond the State
- Ad van Riet - European Central Bank
- Wednesday 19 October 2016
- Stichthage, The Hague
Ad van Riet will review the debate on the longer-term requirements for safeguarding the euro as a currency beyond the state that is anchored through collective governance instead of a central government. The strengthening of EU economic and financial governance in the wake of the euro area crisis goes a long way towards creating the minimum conditions for a more perfect EMU. At the same time, the current principle of nation states coordinating their sovereignty to ‘do whatever is required’ to stabilise the euro area as a whole rather than sharing their sovereignty in common institutions to achieve this common objective has its limitations. Challenges in this context relate inter alia to the effectiveness of market discipline and reinforced economic policy surveillance, the requirement of a truly single financial system, the demand for eurobonds and a euro area fiscal capacity, and the transnational democracy that should legitimate EMU decision-making based on common values.
Based on the paper by Ad van Riet.
About the seminars:
Diplomacy and Global Affairs (DGA) Research Seminar Series
The Diplomacy and Global Affairs (DGA) Research Seminar is a series launched by the Research Group on Diplomacy and Global Affairs at the Institute of Security and Global Affairs. The seminars of internationally acknowledged guest researchers and faculty members deal with current research topics in diplomacy, international relations, global affairs, and political economy broadly conceived and target a broad audience through their interdisciplinary focus.
For more information, please contact:
Prof. dr. M.O. Hosli (coordinator)
ency Beyond the State