Jacques Delors Centre, Bertelsmann Stiftung (ed.)

We Don’t Need No Institution

What the Eurozone requires is not a treasury but a common fiscal policy

1. edition 2020, 5 Pages (PDF)

Free of charge


Does the Eurozone need a “treasury”? The answer is no: The Eurozone needs a common fiscal policy to complement the ECB’s monetary policy. But it doesnot need a new institution to take fiscal policy decisions or to execute suchdecisions. The EU institutional framework is well-equipped to perform thesefunctions. Hence, the focus of political energy should be on getting the rightpolicies and instruments in place, not on building new shiny institutions.

  • 1. edition 2020, 5 Pages (PDF)

    Free of charge


Dr. Katharina Gnath
Lucas Guttenberg