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Corresponding Author:
Nicola Acocella, University La Sapienza, Memotef, Rome, Italy

Italy and Germany. Who has Betrayed Europe?

April 3, 2024
JEL classification: F53; H11; H77
Keywords: European Union; Euro; Werner Report; Institutions; Stability and Growth Pact; Next Generation EU

Abstract

In this paper we take Italy and Germany as prototypes of the peripheral and core countries in the EMU and try to examine their respective faults. However interesting, this exercise has to be completed by an analysis of the Union institutions, their origin (and the forces that drove it away from a more balanced one or a federalist one) and shortcomings. This offers us the opportunity to suggest some changes to them, also to the light of recent changes due to the European reaction to the pandemic.


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Institute for International Economics
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