At 25, the euro area—the ambitious experiment of a currency union among independent states integrating their economies into a single market—has demonstrated remarkable resilience. Despite its inception with an ‘incomplete’ constitution, the euro has weathered numerous challenges and witnessed significant economic and institutional advancements, sparking ongoing debates regarding the measures necessary to ensure enduring stability and success.
In their paper, Buti and Corsetti meticulously trace these developments, engaging in critical discourse and proposing a series of reforms aimed at solidifying the euro area's architecture. Their narrative emphasises on the urgent need for European public goods and investment, while advocating for a renewed focus on genuine integration and improvement of the Single Market.
The authors will present their paper alongside Waltraud Shelkle (EUI Full-time Professor and Joint Chair) and George Papaconstantinou (Acting Director of the Florence School of Transnational Governance and EUI Dean of Executive Education).
Read the full paper 'The first 25 years of the euro'.
The Economic and Monetary Union Laboratory (EMU Lab) is a collaborative initiative driven by the Tommaso Padoa-Schioppa Chair and the Pierre Werner Chair, aiming to reassess the Economic and Monetary Union's structure in light of current European and global economic conditions. We seek to identify research and policy innovations to promote stability, growth, and fairness in the EMU, enhancing the resilience of the European economy and society.