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The European Central Bank and the Economic Government of Europe

Working Paper #21

Jean-Paul Fitoussi, Jerome Creel

Paper  321kb pdf

The European Central Bank has by and large applied the right monetary policy. Nevertheless, we argue for a range of reforms that would make the ECB more effective and accountable. We also suggest a role for the European Parliament in setting monetary policy targets. And with EU and Euro area enlargement around the corner, we propose reforms to the composition of the ECB's policymaking council. Finally, we make the case for a thorough revamp of the Stability and Growth Pact, which strangles Europe's economic growth.

About the Authors

Jean-Paul Fitoussi
Professor of Economics
Institut d'Etudes Politiques de Paris

Jerome Creel
Professor of Economics
ESCP Europe

Publication Information

Type Working Paper
Program Macroeconomic Policy
Posted 01/01/03
Download 321kb pdf
# Pages 68