The divided Eurozone Mapping Conflicting Interests on the Reform of the Monetary Union

The euro crisis showed how incomplete and vulnerable the architecture of the Monetary Union is. Institutional reforms are slow or stalling due to divergent development perspectives for the Eurozone. This study analyses the conflicting interests among member states involved in the recent reform process. Based on economic theory, a disagreement can be identified between a minority around Finland and Germany, which advocate a “stability union”, and a majority around Italy and France striving for a “fiscal union”. But a far-reaching fiscal a

Source: brussels.fes.de