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The Deepening of the Economic and Monetary Union
F02 - International Economic Order; Economic Integration and Globalization: General
F15 - Economic Integration
F36 - Financial Aspects of Economic Integration
H77 - Intergovernmental Relations; Federalism
This article seeks to guide the reader through the developments in the process of EMU deepening, clarifying the economic arguments and identifying the choices made by the decision makers, which led to the current institutional design. In addition, a critical analysis of the different proposals under discussion is made, aiming at identifying the most efficient way, in a long-term perspective, to ensure the proper functioning of the monetary union.