No. 348 Proposals for Monetary Reform and the Eurosystem

Bulletin of the Institute for Western Affairs (No. 348/2018), Frank Decker, “Proposals for Monetary Reform and the Eurosystem”

 The global financial crisis (2007) and the European sovereign debt crisis (2012) triggered profound changes in the conduct of monetary policy by the leading central banks. The scale of interventions has been substantial and the central banks of the Eurosystem have become dominant purchasers and holders of government bonds. The scale and nature of interventions has triggered renewed calls for the current system to be more fundamentally reformed.

This article is part of Special Bulletin Series of the Institute for Western Affairs titled “The euro - opportunities and threats”. The analyses and opinions featured therein concern the functioning of the Economic and Monetary Union, its possible transformations and the consequences of Poland’s possible adoption of the single currency and of remaining outside of the eurozone. In its subsequent issues, the Bulletin will shed light on the above issues from a variety of perspectives.