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Reflections on EU Policy Reforms: Trust for Effective Governance

Explore the importance of trust in EU policy reforms, focusing on improving trust in institutions, assessing the '6-pack' rules, and defending the ECB's independence. Discuss the need for coordination between institutions and alternative options to enhance economic governance for a more effective EU. Presented at a public hearing in the European Parliament.

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Reflections on EU Policy Reforms: Trust for Effective Governance

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  1. Without trust, no thrust Some reflections on the new EU agenda for policy reforms Jérôme Creel (OFCE & ESCP Europe, Paris) Public Hearing by the ECON Committee on “Economic governance and crisis management in the EU”, European Parliament, Monday 17 October 2011

  2. Improving trust in institutions • Short run: emergency 1 • Improving trust in the Euro • Short run: emergency 2 • Assessing the ‘6-pack’ • The democratic criterion • Checking the checkers • Checking for the effectiveness of fiscal policy • Defending the independence of the ECB • Acknowledging no one size fits all rules

  3. Thrust : longer run emergency 2 • Cooperation/coordination btw all institutions, including the ECB • Other options: • dual mandate, • IT framework, • ‘good’ and ‘bad’ taxes and expenditures… to reach a modified golden rule of public finance

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