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Eurozone Governance

Eurozone Governance

Policy Network & WIFO

08 November 2012


Reconciling the short and the long run: governance reforms to solve the crisis and beyond

The Eurozone is enjoying a relative period of calm. The current state of play, however, might prove dangerously misleading for at least two reasons.

First, the market's standstill is fraught with potential disruptions. EU leaders need to live up to their commitments and to reverse the deflationary dynamics crippling European economies.

Secondly, crisis management in the Eurozone lacks an anchoring in a long-term economic and political vision. Governance reforms need to be consistent with the much-needed transition towards a more balanced growth model delivering high employment, social inclusion and environmental sustainability. The institutional dilemmas and divisive trends brought abruptly to the fore by the crisis equally call for a more workable and legitimate EU.

This argument is at the core of a new policy brief co-authored by Policy Network and WIFO (the Austrian Institute of Economic Research). The publication provides recommendations on how to reconcile the short-term logic of crisis fighting and the long-term socio-economic challenges faced by Europe.

About the authors:
Roger Liddle
, Olaf Cramme and Renaud Thillaye are respectively chair, director and policy researcher at Policy Network. Karl Aiginger and Stefan Ederer are director and deputy director of WIFO, the Austrian Institute of Economic Research

Welfare, Wealth and Work for Europe Project
This policy brief is the first publication of the ‘WWWforEurope’ project, a four year research initiative led by the Austrian Institute of Economic Research (WIFO) with the objective to identify the conditions for a successful socio-ecological transition in line with the Europe 2020 strategy for smart, sustainable and inclusive growth. The research leading to these results has received funding from the European Commission’s Seventh Framework Programme FP7/2007-2013 under grant agreement no. 290647. This project has received funding from the European Commission.

For more information, visit www.foreurope.eu

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