Change Font: A A A A Contact Us What's New FAQs Subscribe ADB.org home
HomeNews and EventsCalendar of EventsDistinguished Speaker Seminar: Paola Subacchi: The Road to Fiscal Union in the Eurozone: Fantasy or Reality?

Distinguished Speaker Seminar: Paola Subacchi: The Road to Fiscal Union in the Eurozone: Fantasy or Reality?


Purpose

In the presentation Paola Subacchi argues that the fiscal union, and eventually the political union, is the only way forward for Europe's economic and monetary union. Divergences in size, development and institutions present the monetary union with the typical dilemma of policy coordination, that is that countries need to bind to some kind of political framework in order to respect their commitments and do not have a clear incentive to defect. As it is impossible to simultaneously achieve deep economic integration, nation state and democratic politics (Rodrick's poliitical trilemma) then the citizens of the eurozone will need to choose which two of these three goals they are keen to achieve/maintain.

Back to Top

Background

Paola Subacchi is Research Director of the International Economics Research at Chatham House (the Royal Institute of International Affairs). Her main research interest is in the functioning and governance of the international financial and monetary system, with a particular focus on post-crisis policy and institutional change. She is a contributor to peer-reviewed journals and current affairs publications. She is a regular media commentator with the BBC, CNN, Bloomberg, CNBC, Newsweek, the Financial Times, the Wall Street Journal,the International Herald Tribune and the European Voice. An Italian national, she studied at Bocconi University in Milan and at the University of Oxford.

Back to Top

Participants

Policymakers, academics and the general public.

Back to Top

Language

English





Back to Top 
© 2014 Asian Development Bank Institute.