Columbia International Affairs Online: Policy Briefs

CIAO DATE: 06/2014

What future for the eurozone? Combining discipline, solidarity and institutional reforms

Stijn Verhelst, Xavier Vanden Bosch

March 2014

EGMONT – The Royal Institute for International Relations

Abstract

This Policy Brief discusses the challenges that await policymakers in reforming the EMU. A balance between discipline and solidarity will have to be found, while institutional reforms should improve the eurozone’s legitimacy and efficiency. The key decisions on EMU reforms will have to be made during the 2014-2019 parliamentary term, as the window of opportunity for major reforms is likely to be closed afterwards.