For a reformation of the budget and of the European economic governance to achieve the objectives of Europe 2020

The initiative, promoted by the Centro studi, documentazione, formazione sull’Unione Europea (CESUE) and the Movimento Federalista Europeo, section of Florence, aims at analyzing the current situation of the economic governance of the European Union and the prospects that can open up for a more effective management of the economic policy in the Euro area and in the whole Union from the federal transformation of the EU budget. The recent financial crisis has exposed the problems of collective action related to the management of the economic policy in Europe, especially in the Euro area. It emerged that the weak governance model used up to now is potentially unstable and precursor of imbalances that risk questioning the whole European institutional structure. The European bodies have accelerated the consideration on the various opportunities to break the deadlock and making the entire institutional structure of the management of the economic policy in Europe more consistent with the challenges that the markets and the growing global interdependence impose on the economic authorities. In particular, the European Parliament has strongly raised the problem of one’s own resources and of financial prospects in the medium and long run. The European Central Bank, the European Commission and the European Council presented various proposals concerning the reformation of the economic governance. The theme of one’s own resources to be found through a European tax and, if necessary, through Eurobonds, has been at the centre of the debate for a long time. The Parliament is working out a document on the subject and the Commission should present some specific proposals by next June. The panel of speakers proposed by the Cesue, Centro studi, documentazione, formazione sull’Unione Europea, and the MFE Movimento Federalista Europeo, section of Florence, includes expert scholars who are able to analyze the theme from different perspectives.