On 2 March 2012, 25 Heads of EU countries signed the Treaty on Stability, Coordination and Governance. New economic governance has emerged. There are stricter fiscal rules, new instruments and new bodies. On top of the amendment of the EU treaty, two other Treaties have recently been adopted; one on financial assistance, and one on the surveillance of fiscal rules and related issues. The magic triangle of policy adjustment has been : 'discipline-growth-assistance'.
The policy response has its political dimension. Not all countries have committed to strengthening rules and not all are willing to share sovereignty to the same extent. The crisis has thus changed the face of the EU.
With all these developments, is the EU becoming a laboratory of global economic governance?
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Dr. Petr Blizkovsky, EU Fellow, Lee Kuan Yew School of Public Policy
- Monday, 02 April 2012
- 12.15 p.m. - 1.30 p.m.
Seminar Room 3-5
Level 3, Manasseh Meyer
Lee Kuan Yew School of Public Policy
469C Bukit Timah Road