Miguel Otero IglesiasMiguel Otero Iglesias
International Political Economy at Elcano Royal Institute
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“This week’s Meseberg Declaration signed by Angela Merkel and Emmanuel Macron, although a step in the right direction, is part of a collective denial about what needs to be done. You don’t need to be a populist to recognize that Europe’s monetary union is dysfunctional and in dire need of more substantial reforms that those proposed by Germany and France.”
Miguel’s joint article with Raymond Torres on building a more resilient, future-ready, Eurozone is available to read on Politico.
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Deepening of EMU cannot wait until all countries have carried out all their domestic reforms, both risk sharing and risk reduction need to proceed simultaneously. In fact, all euro area countries are exposed to the risk of an incomplete monetary and economic union but with very asymmetric costs. This column, part of the VoxEU debate on euro area reform, argues that this risk can only be tackled with common instruments and policies at the European level, whose mere existence will reduce not only its magnitude but also its asymmetric consequences.
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Miguel’s Elcano Comments piece is a response to the European Commission’s reflection paper on the future reform of the European Economic and Monetary Union (EMU) paper. Available to read on the Elcano website.
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Miguel discusses Italy’s relationship with the Eurozone and how political economic factors – among others – affect this relationship. Available to read on the Elcano blog.
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Miguel writes about Martin Sandbu’s Europe’s Orphan: the Future of the Euro and the Politics of Debt was the best book on the Eurozone crisis. Available to read on Elcano’s Blog.
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