Toward A Fiscal Union for the Euro Area

Staff Discussion Notes, September 25, 2013

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Toward A Fiscal Union for the Euro Area

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Bibliographic details

• Authors: Céline Allard, Petya Koeva Brooks, John C Bluedorn, Fabian Bornhorst, Franziska L Ohnsorge, Katharine M Christopherson Puh
• Published: September 25, 2013
• Series: Staff Discussion Notes
• DOI: https://doi.org/10.5089/9781484307373.006

Summary

• Addresses a key policy issue for Europe: reinforcing EMU institutional architecture along with the Banking Union.
• Notes that some proposals have emerged in Europe and emphasizes the importance of putting out staff views on this issue.
• States that publication as a Staff Discussion Note (SDN) is appropriate given the high profile nature and relevance of the topic—analogous to the Banking Union paper published a few months earlier.
• Includes a disclaimer that the Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy.

Subject Areas and Keywords

• Subject: Banking; Budget planning and preparation; Fiscal governance; Fiscal policy; Fiscal rules; Fiscal union; Public financial management (PFM)
• Keywords (as listed): 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

Core Findings and Analytical Emphases

• Reinforcing EMU institutional architecture is identified as a central policy priority, to be pursued in conjunction with the Banking Union.
• The document positions IMF staff commentary as timely and necessary in light of emerging proposals within Europe.
• Emphasizes the role of the SDN format for disseminating staff views on high-profile, policy-relevant topics.

Access and Formats

• The publication is available as a Staff Discussion Note and referenced with a DOI for citation.

Source: Toward A Fiscal Union for the Euro Area, Staff Discussion Notes 2013, 009 (2013), Céline Allard et al., published September 25, 2013.

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