Nazaré Costa Cabral, José Renato Gonçalves, Nuno Cunha Rodrigues
Part I. The Eurozone as a (non) Optimum Currency Area
2. The Fundamental Flaws in the Euro Zone Framework
Joseph E. Stiglitz
3. EMU as a Sustainable Currency Area
Annette Bongardt, Francisco Torres
4. A Structural-Reform Proposal for a Two-Speed European Monetary Union
5. Are Euro Area Economic Structures Changing?
Francesco Paolo Mongelli, Georgios Papadopoulos, Elisa Reinhold
6. Differences in Human Capital and Openness to Trade as Barriers to Growth and Convergence in the EU
Marta C. N. Simões, João A. S. Andrade, Adelaide P. S. Duarte
7. Has the Euro Any Future Under Secular Stagnation?
Part II. A Monetary Union Relying on Fiscal Policy Coordination: Achievements, Shortcomings and Future Perspectives
8. European Monetary Union: Political Motivation
Luís Máximo dos Santos
9. The Great Recession of 2012–2014: The Monetary Union Challenged by National Egoisms
10. The Fiscal Compact and the Excessive Deficit Procedure: Relics of Bygone Times?
11. A Conceptual Framework for Reforms Versus Debt in the Context of a Fiscal Union Within the European Monetary Union
Yannis M. Ioannides
12. Sovereign Debt Restructuring in a Monetary Union: The Case of the Euro Area Member States
Sérgio Gonçalves Cabo
Part III. New Perspectives for Macroeconomic Stabilizers in the European Union
13. The Crisis Management of the ECB
14. The Unconventional Monetary Policy of the ECB and the International Economic and Financial Crisis: Effectiveness Versus Exhaustion
15. The Eurozone’s Private and Governmental Shock Absorbers: Current Setup and Future Prospects
Nazaré Costa Cabral
16. The European Banking Union and the Economic and Monetary Union: The Puzzle Is Yet to Be Completed
Nuno Cunha Rodrigues, José Renato Gonçalves
17. The (Future) European Unemployment Insurance and Its Role as an Automatic Stabiliser
Miroslav Beblavý, Karolien Lenaerts, Ilaria Maselli
Part IV. A Budgetary Union as a Way-out of the EMU Crisis: Is It Possible?
18. Achieving Accountable Governance and Structural Reforms: Lessons from the Crisis in Europe
Ehtisham Ahmad, Giorgio Brosio
19. The Financing of the European Union Budget
20. Toward a Closer Union in Europe: Elusive Mirage or Reality Within Grasp?
21. The Scope for a Budgetary Union in the European Monetary Union
Oscar Bajo-Rubio, Carmen Díaz-Roldán