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26/11/2007 - 27/11/2007 : Workshop EMU at 10: achievements and challenges

On 1 January 2009, it will be ten years since the move to the third and final stage of Economic and Monetary Union (EMU) and the launch of the euro. To mark this important anniversary, the European Commission is undertaking a strategic review of EMU after 10 years.

On 26 and 27 November 2007, in Brussels, DG ECFIN (Directorate General Economic and Financial Affairs), in co-operation with BEPA, held a workshop assessing the past, present and future of EMU.


The workshop provided an opportunity for original contributions to analyse such topics as:

  • Overall assessment of EMU functioning.
    Evaluating the euro area’s policy-mix
    The impact of the euro on growth and employment
    A long-term perspective on the euro
    Monetary unification in Europe and the theory of OCAs
    Monetary policy experience
  • Financial markets.
    Financial market integration under EMU.
  • The euro in the international economy.
    The euro’s impact on international stability and volatility
    The international role of the euro
  • Governance, institutions and design of new policy initiatives.
    Economic governance in an enlarging euro area
    Euro-area enlargement and euro adoption strategies
  • Tax and public finance issues
    EMU’s decentralised system of fiscal policy
    Taxation policy in EMU
    Assessing the stabilising role and adjustment capacity of governments in EMU
  • Internal market issues
    Spillover effects across countries in the euro area – Effects of reforms in goods and services markets on adjustment


Contributors to the workshop ncluded : P Aghion, A Ahearne, C Allsopp, J Alworth, G Arachi, I Begg, M Bordo, G Corsetti, Z Darvas, J Dolado, B Eichengreen, S Gerlach, F Giavazzi, P de Grauwe, J von Hagen, A Hughes Hallet, T Japelli, E Kharoubbi, F Mongelli, M Pagano, J Pisani-Ferry, R Portes, A Sapir, S Scarpetta, G Szapáry, D Vines and C Wyplosz.


By invitation only.


The workshop papers are being circulated in the series European Economy – Economic Papers. They will also be published together with the comments of the discussants in a volume edited by Marco Buti, Servaas Deroose and Vítor Gaspar.

>> Read the papers

For a summary of the workshop see the March 2008 edition of the European Economy Research Letter

>> Research letter

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