EURINT (Nov 2018)
THE FUTURE OF THE EUROPEAN ECONOMIC AND MONETARY UNION: CHALLENGES AND SOLUTIONS FOR A SOLID CONSTRUCTION
Abstract
The article aims at analysing the debate regarding the future of the European Economic and Monetary Union as a core structure that will be capable to ensure the development of the European Union and to reach the fundamental goal of the free movement of the capital. Considered by many built on a week foundation, the discussion regarding how the European Economic and Monetary Union must be restructured became an urgent problem to be solve in the light of the last ten years political and economic events (international financial crisis, euro crisis, the radical view of several European political leaders elected after 2014). Our research focuses on different points of view regarding the future structure and regulation framework of the European Economic and Monetary Union as a critical qualitative research in order to put together the advantages and disadvantages of such opinions and the validity of arguments in their favour. Our research has as starting point the 2012 Four Presidents Report and the 2015 Five Presidents Report facing the opinions of the academia and the European financial market reality. We analysed different future developments proposals in order to identify the validity of concepts such as a banking union, new tools and mechanisms designed to contribute to the accomplishment of a functional Economic and Monetary Union. The article ends with several conclusions regarding the process to develop a deeper Economic and Monetary Union in the EU.
