Staff Discussion Notes

Toward A Fiscal Union for the Euro Area

ByCéline Allard, Petya Koeva Brooks, John C Bluedorn, Fabian Bornhorst, Franziska L Ohnsorge, Katharine M Christopherson Puh

September 25, 2013

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Céline Allard, Petya Koeva Brooks, John C Bluedorn, Fabian Bornhorst, Franziska L Ohnsorge, and Katharine M Christopherson Puh. "Toward A Fiscal Union for the Euro Area", Staff Discussion Notes 2013, 009 (2013), accessed 12/5/2025, https://doi.org/10.5089/9781484307373.006

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Disclaimer: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published to elicit comments and to further debate.

Summary

This is on a highly topical issue and addresses a key policy issue for Europe—namely, reinforcing EMU institutional architecture along with the Banking Union. Some proposals have emerged in Europe, and it will be important to put out staff views on this issue. In that context, publication as an SDN is appropriate, given the high profile nature and relevance of the topic—much like the Banking Union paper done a few months ago.

Subject: Banking, Budget planning and preparation, Fiscal governance, Fiscal policy, Fiscal rules, Fiscal union, Public financial management (PFM)

Keywords: Area bank, area budget, area country, Area country, area entity, area imbalance, area level, area member, area periphery, area resolution fund, area Unemployment Fund, Budget planning and preparation, Euro area, Euro area entity, Euro area leader, Euro area stabilization fund, Europe, federal government, Fiscal Federalism, Fiscal Governance, Fiscal Integration, Fiscal rules, Fiscal Union, growth shock, market discipline, resolution fund, Risk Sharing, SDN

Notes

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