Past Event

Adjustment in the Economic and Monetary Union

This event will look at shocks and adjustment in the euro area in the light of recent crises and analyse the functioning of a key internal adjustment process in EMU

Date: February 23, 2016, 12:30 pm Topic: European Macroeconomics & Governance

VIDEO RECORDING

The global and sovereign debt crises have shown that the effect on individual economies of a common economic shock can be very different across the euro area. At this event José Leandro, from the European Commission, DG ECFIN presented a special edition of the Quarterly Report on the Euro Area.

The report reviews the issue of shocks and market-based adjustment in the light of recent crises focusing on three key dimensions: the relative price mechanism, the real interest rate mechanism and the role of debt in adjustment processes.

Overall, the analysis shows that market-based adjustment has been at work in the euro area since the crisis but has been slow and asymmetric. Appropriate policies in labour, product and financial markets, together with a complete Banking Union and Capital Markets Union are critical to improve Member States’ adjustment capacity.

The presentation of the report was be followed by comments by Antoine Berthou and Robert Anderton.

 

Schedule

Feb 23, 2016

12:00-12:30

Check-in

12:30-13:00

Presentation

José Leandro, ‎Director, Policy, Strategy and Coordination, European Commission, DG ECFIN

13:00-13:30

Panel discussion

Chair: Pia Hüttl, Affiliate Fellow

Robert Anderton, Deputy Head of Country Surveillance Division, DG-Economics, European Central Bank

Antoine Berthou, Economist, Banque de France

13:30-14:00

Audience Q&A

14:00

Lunch

Speakers

Robert Anderton

Deputy Head of Country Surveillance Division, DG-Economics, European Central Bank

Antoine Berthou

Economist, Banque de France

Pia Hüttl

Affiliate Fellow

José Leandro

‎Director, Policy, Strategy and Coordination, European Commission, DG ECFIN

Location & Contact

Bruegel, Rue de la Charité 33, 1210 Brussels

Matilda Sevón

matilda.sevon@bruegel.org +32 2 227 4212

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