Assess the practical hurdles associated with implementing institutional reforms for the better management of fiscal policy within the EU, with a particular focus on the legal, political and behavioural constraints that the current EMU fiscal institutional structure – and, in particular, the alternative ADEMU proposals – may face.

Specific Objectives:

1. To identify the legal and constitutional challenges posed at both a European and national level by recent institutional innovations (including the Fiscal Compact, ESM Treaty and SSM), and to identify similar challenges and potential loopholes associated with the proposals made as part of the ADEMU project.
2. To explore relevant political economy concerns associated with the fiscal and financial governance of EMU.
3. To examine experimentally the viability of specific theoretical models and policy proposals considered under the ADEMU project.