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Corresponding Author:
Nicola Acocella, University La Sapienza, Department of Public Economics, Rome, Italy

To Exit or not to Exit (from the EMU)?

(pp. 1-20)
JEL classification: E42, F00
Keywords: Monetary Union, Exit, Institutions, Democratic Governance

Abstract

We discuss the main alternatives open to the Union, from its break-up to exit of some countries and radical changes in its institutional set-up. The pros and the cons of a possible exit are thus assessed with respect to these alternatives. The prospect of political and institutional changes that reinforce the existing structure, in particular with reference to solutions for overcoming its democratic deficit, are finally outlined.


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