Completing a Genuine Economic and Monetary Union

This Element examines whether a decade of reforms has enabled the euro to become a more complete and resilient currency.

This Element examines efforts to strengthen Economic and Monetary Union in the European Union, especially over the last decade. It also reviews the wide-ranging reforms undertaken since the crises of the early 2010s and assesses whether they go far enough.This Element examines efforts to strengthen Economic and Monetary Union in the European Union, especially over the last decade, asking if enough has been done to render it more sustainable and resilient. Drawing on a survey of 111 leading experts on the economics and politics of EMU, this Element reviews the wide-ranging reforms undertaken since the crises of the early 2010s and assesses whether they go far enough. Although it concludes that much has been done to push the euro towards being a more complete currency, it identifies remaining flaws and challenges which EU leaders need to resolve.