Η νέα διακυβέρνηση της Ο.Ν.Ε.
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Keywords
ΟΝΕ ; Ευρωπαϊκή Ένωση ; Νομισματική πολιτική ; Διακυβέρνηση ; ΜεταρρυθμίσειςAbstract
The European Union's Economic and Monetary Union was created to support Europe's economic and political integration. It was built on some simple principles such as central bank independence, non-direct financing of public sector by central banks, fiscal discipline and the "no bailout" clause, meant that no country participating in EMU could expect another country to bail it out. The international financial crisis, however, has caused a strong systemic crisis in the Eurozone building and has highlighted the multiple gaps in its governance, as well as its operational and management errors and omissions. With much delay, an effort has begun to save the eurozone by setting up new support mechanisms, new disciplines, new economic policy co-ordination processes, and new financial sector institutions. The effort to shield the Eurozone is not complete. Disagreements between its Member States are hampering the promotion of drastic solutions, making its future uncertain, especially in the event of bankruptcy of large EMU countries.