Making Europe Work

Authors

  • ROBERT MUNDELL

    1. Often referred to as “the father of the euro,” was awarded the Nobel Prize for Economics in 1999 for his work in monetary dynamics and optimum currency zones. He teaches at Columbia University. This article is adapted from a speech by Robert Mundell presented in the Charlemagne Building of the Jean Monnet Centre in Brussels.
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Abstract

Because they have failed to address the fundamental economic imbalances within Europe obscured by the single currency, each effort by European leaders so far to resolve the euro crisis has only deepened it. Without a decisive move toward fiscal and political union, accompanied by policies that push productivity and competitiveness toward convergence while closing the democratic deficit, the Eurozone will disintegrate.

To discuss the way forward, the Nicolas Berggruen Institute's Council on the Future of Europe met in Rome on May 28 with Italian Prime Minister Mario Monti. In this section we publish the contributions from that meeting by the former European leaders, scholars and Nobel laureates who are members of the Council.

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