Strengthening budgetary surveillance and coordination of budgetary policy measures in the EU is of vital importance for economic stability and growth. The decentralised decision making structure in most areas of budgetary policies, requires the need to balance national and common objectives;...

The paper assesses the heterogeneity of an enlarged European Union and discusses the role and contribution of CEECs on the development of this heterogeneity over time. The two central research questions are: What are the factors that distinguish between successful and less successful CEE...

The research paper assesses the opportunities and challenges raised by the post-crisis EU governance system with regard to the transition of European economies towards a new growth model balancing economic performance with social cohesion and environmental responsibility. It begins with...

This paper assesses whether or to what extent the macroeconomic imbalances, which emerged in the ‘North’ and ‘South’ of the European Monetary Union before the financial and economic crisis of 2008/09, are symmetric. Firstly, we calculate bilateral exports and imports between all EU...

The most commonly held opinion about the eurozone crisis is that it should lead to greater EU integration. Yet despite all the talk about fundamental design flaws and the need for a federal ‘leap forward’, EU governments and citizens are not ready to pool further sovereignty and resources as...

This paper aims to identify different growth patterns in the EU which led to the emergence of macroeconomic imbalances. It provides a detailed statistical picture of the evolution of various macroeconomic variables on the demand as well as on the supply side, before, in and after the financial...

Despite significant measures to reinforce the EMU’s institutional set-up, there is widespread consensus that more needs to be done in order to better deal with cyclical and structural heterogeneity in the EU. Market-based adjustment mechanisms are necessary but not sufficient to advance...

The European integration process is ongoing. Europe is still heterogeneous. Within this context, the paper addresses the question of whether policies in the EU should head towards autonomy, coordination or harmonization. Taking the path dependence effect into account, in the papers’ opinion,...