Speakers
Objective of the session
The Covid crisis has exacerbated existing fiscal, economic, productivity, and current account imbalances across EU Member States (see Eurofi Macroeconomic scoreboard). This makes finding consistent EU policy making much more problematic. Furthermore, the limited financial flows between eurozone countries lock in per capita income dispersion in the euro area.
This session will assess the monetary, economic and fiscal priorities required to achieve economic cohesion within the euro area and to improve cross-border private risk sharing. The speakers are also invited to express their views on the key measures now needed to encourage an integrated banking and capital market in Europe.
Points of discussion
- How can economic cohesion and private risk sharing be achieved and maintained in the Euro Area with ever-increasing economic dispersion among Member States and the low degree of federalism? What can the expected benefits be of effective normalisation of monetary policy in the euro area?
- How to restore capital mobility in the euro area in the context of increasingly negative real interest rates with widening fiscal and debt level variance across euro area members? What are priorities for progressing cross-border private risk sharing and encouraging an active and integrated banking and capital market in Europe?