Federalism Series

 
In the first part of the book an analysis is developed regarding the fiscal structure of the Monetary Union, starting by the Maastricht constraints and going through the Stability and Growth Pact to the Fiscal Compact. The main idea is that a new structure of the European budget should be promoted, with an increased size and new own resources, overcoming the limits of the current structure either on the revenue side or on the expenditure one. The main role of a renewed budget will be to provide the European public goods that are necessary to guarantee internal and external security, protection of the environment, technological innovations and all the measures that are needed to support growth and competitiveness of European production. A Stabilisation Fund should be put in place, so that the Eurozone could be able to face with adequate means a new general or asymmetric shock. [...]