The unresolved issue of Europe's economic governance
Bruegel will host the presentation of "The Governance Report 2013", a collaborative effort of scholars and practitioners from many parts of the world, anchored by a research and editorial team based at the Hertie School of Governance.
Authors Helmut K. Anheier and Lucia Quaglia will present findings from the report relating to financial and fiscal governance in Europe.
During the crisis, problems extended cross-border, whilst jurisdictions for most economic policy remained national. Technocratic solutions to the crisis proved inadequate mostly because they all entailed trade-offs and distributional implications, which have not been taken into sufficient account.
These trade-offs include liquidity versus moral hazard, accountability versus effectiveness, and domestic politics versus international commitments. Good governance is mainly about resolving these trade-offs.
The presentation will be followed by a reflection from Daniel Mügge, University of Amsterdam, and by a wider discussion on governance challenges in the euro zone and possible ways forwards.