IMFS Working Lunch "European Union - Where To?" ("Börsen-Zeitung")

Do we have to unwind the euro in order to sustain the EU project? During a talk in the IMFS Working Lunch series, Athanasios Orphanides, Michael Haliassos and Volker Wieland discussed the future of the European Union, the perils and potential solutions.

Orphanides, former president of the Cypriot central bank, especially missed a political superstructure in the EU, similar to the United States, as the financial daily "Börsen-Zeitung" wrote. Above all, Haliassos warned against a "cycle of alienation" in Europe, which made more and more people adopt extreme attitudes. In order to counteract such developments, Wieland demanded to stop the tendency towards a national partitioning of the markets and rather pay attention to the principle of subsidiarity.

Börsen-Zeitung: "Brüssel ist nicht Europa"

An Englisch summary of the discussion is available in the section "IMFS Working Lunches and Seminars"