The EU’s enlargement policy is enshrined in the Treaty on European Union, which lays down the requirements for the accession of any European state. It is against this background that Southeastern European (SEE) national central banks (NCBs) strive to prepare for the challenges of enlargement....

Euro area (EA) accession should mainly depend on the achievement of a critical mass of real and structural convergence, which should diminish the risks to operate in an incomplete monetary union. Accession would also be enhanced by reforms in the functioning of euro area institutions and...

This article focuses on measures taken in 2012 and 2013 to reform the EU’s institutional framework. These measures, which were largely based on provisions included in the Treaty of Lisbon, have increased the role of the European Parliament and of the national parliaments. Stronger...

The institutional framework and the tools for economic governance provided by the Treaty of Lisbon were inadequate for preventing or resolving the recent banking and sovereign debt crisis in the EU. For instance, the Treaty did not provide any instruments for stabilizing euro area finances, and...

The institutional framework and the tools for economic governance provided by the Treaty of Lisbon were inadequate for preventing or resolving the recent banking and sovereign debt crisis in the EU. For instance, the Treaty did not provide any instruments for stabilizing euro area finances, and...

This study discusses the integration developments which have had an institutional, legal and functional effect on the Oesterreichische Nationalbank (OeNB) since Austria joined the European Union. The first stage of Austria's EU membership (1995 to 1998) brought about three major challenges for...