The current financial and economic crisis has highlighted the inadequacy of existing institutional and policy arrangements at the EU level. Even before this crisis, the EU economic growth was low, by international standards, revealing deep structural problems across EU countries, especially in...

The emergence of the financial crisis back in 2007 exposed a series of deficiencies in the way the European mechanisms functioned, highlighting the incomplete policy design of the EMU (Economic and Monetary Union). Thus, it became evident that financial integration, financial stability and...