On 18th and 19th May, ADEMU and the Bank of Spain, in conjunction with the European Stability Mechanism and the International Monetary Fund, are hosting a conference to examine the role of a fiscal union in the European Monetary Union (EMU).

The recent European Commission White Paper on the Future of Europe opened the debate on the path a post-Brexit European Union should take, presenting five scenarios for debate. But no matter which political path is chosen, the question of how much of a fiscal union is required needs to be addressed, in order to shed light on what direction might be the most desirable for the euro area and the European Union (of 27) to pursue.

The conference at the Bank of Spain in Madrid, whose participants include some of the world’s most influential economists from academic institutions, national and central banks, national ministries of finance and European Union institutions, will debate new research and investigate this issue.

The programme includes sessions on monetary policy, fiscal policy and private finance interaction; EMU fiscal rules; risk sharing and policy reforms; fiscal federalism, and sovereign debt and stabilization policies. Panel discussions will examine areas including current fiscal rules and the role of independent fiscal councils, a treasury for the banking union and European Central Bank, debt overhang and, finally, how much of a fiscal union is needed for the EMU.

People interested in attending the conference should sign up no later than 7 May by completing the registration form.

See the full programme, which includes links to papers that are being presented

See brief biographies of the participants.

Check the directions to get to the venue of the conference: