Improving the functioning of EMU: what are the pending reforms?

On 22 November 2018 the Slovak Agriculture University, Faculty of Economics and Management in Nitra, organised a lecture for researchers, pedagogical staff, graduate and post-doctorate students. The main goal of the lecture was to describe the overall steps in relation to improving, supporting better functioning and deepening of Europe's Economic and Monetary Union.

The EESC representative, Mr Juraj Sipko (Slovakia, Diversity Europe Group), contributed to the main discussion, in particular as regards the present and future functioning of the Banking Union and the Capital Markets Union, by focusing on the pending agenda in relation to the European Deposit Insurance Scheme. In addition, he presented in detail the institutional and legal changes proposed for the European Stabilisation Mechanism, the non-performing loans and insolvency legislation, the accumulation of debt and the TARGET2 mechanism. Finally, he spoke about the possibilities for improving the functioning and enforcement of the Stability and Growth Pact, the creation of a euro area stabilisation function within the European budget, as well as the possible implementation of sovereign bond-backed fixed income securities in the near future.

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