During the euro area crisis, policymakers have been forced to reassess many lines of economic policy. A special focus has been on coordination of fiscal policy in the euro area: to what extent it should be deepened, and how the augmentation should be implemented? Does evolution of the Eurozone inevitably lead towards more federalist structures? A lively debate on the appropriate fiscal policy stance is also going on: what kind of fiscal policy would be optimal, when the economy is growing slowly despite ultra-low interest rates, but rapidly increasing public debt constraints options for reflating?
These were among the topics to be discussed in a seminar on fiscal policy making in the euro area that The Research Institute of the Finnish Economy ETLA organised
on 16 October 2012 at 9.00 – 15.30
at Event Arena Bank, Union Square auditorium, Unioninkatu 20, Helsinki.
Top European economists laid the ground for discussion. Presentations and prepared comments can be downloaded from the links below.
09:00 Opening remarks – Vesa Vihriälä, ETLA
Session I: Fiscal policy in Europe – what is the appropriate stance?
10.40 Coffee break
Session II: The new fiscal rules – what will change in practice?
12:40 Lunch break
Session III: What sort of economic union is needed for the euro to survive?
13:50 Presentation – Jean Pisani-Ferry, Bruegel
14:30 Comment – Sixten Korkman, Aalto University
14:50 Panel Discussion on the future of the euro area
Lars Jonung – comment
Vesa Vihriälä, moderator
15:30 Close of the seminar