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Published: 1 February 2016  
Related theme(s) and subtheme(s)
Research policyHorizon 2020
Science in societyGovernance
Countries involved in the project described in the article
Czech Republic  |  France  |  Germany  |  Italy  |  Portugal  |  Spain  |  United Kingdom
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Guidance for economic and monetary reform

EU and euro-area policymakers are planning reforms to the common rules that underpin economic and monetary integration in Europe. To help, researchers in the EU-funded project ADEMU are developing proposals to guide the reforms.

People standing in a queue at the supermarket

© Robert Kneschke - Fotolia.com

Following the outbreak of the financial crisis and associated deep recession, the EU has been taking measures to improve its common framework for economic and fiscal policy coordination and supervision.

All 28 EU countries are part of this framework, known as Economic and Monetary Union (EMU), and 19 have taken a step to further integration through using the euro as a single currency.

Reforms to EMU are outlined in a roadmap developed by the presidents of five EU institutions – the European Commission, European Parliament, European Central Bank and European Council. The roadmap calls for further economic integration in two stages beginning in July 2015, with completion of the EMU by 2025 at the latest.

ADEMU was established to provide input to this reform process. It will prepare proposals on reducing economic vulnerability and improving the EMU’s sustainability.

The project’s researchers also plan to close the gap that they say exists between “policy-oriented analyses of the precise EU challenges, and the major developments in dynamic macroeconomic theory of the past three decades”.

Their research will involve analysis of the EU and euro area’s fiscal policies and the causes of sovereign debt crises. And they plan to develop both new indicators for assessing the risk of such crises occurring again, and new strategies for reducing these risks.

The research will also look at the way EU countries currently coordinate fiscal policies and will address such issues as debt overhang, fiscal consolidation, public debt management, risk-sharing and crisis management.

Project details

  • Project acronym: ADEMU
  • Participants: Italy (Coordinator), UK, Germany, France, Portugal, Spain, Czech Republic
  • Project reference: 649396
  • Total cost: € 2 499 999
  • EU contribution: € 2 499 999
  • Duration: June 2015 - June 2018

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Countries
  Algeria
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  Belgium
  Benin
  Bolivia
  Botswana
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  Burkina Faso
  Cameroon
  Canada
  Cape Verde
  Chile
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  Croatia
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Countries
Countries
  Algeria
  Argentina
  Australia
  Austria
  Bangladesh
  Belarus
  Belgium
  Benin
  Bolivia
  Botswana
  Brazil
  Bulgaria
  Burkina Faso
  Cameroon
  Canada
  Cape Verde
  Chile
  China
  Colombia
  Costa Rica
  Croatia
  Cyprus
  Czech Republic
  Denmark
  Ecuador
  Egypt
  Estonia
  Ethiopia
  Finland
  France
  Gambia
  Georgia
  Germany
  Ghana
  Greece