Madariaga - College of Europe Foundation

Madariaga Paper, Vol. 1 , No. 6, (Oct., 2008)

PIERRE DEFRAIGNE - Executive Director, Madariaga - College of Europe Foundation

This paper discusses the impact of the financial crisis on the EU, and asks whether Europe will go down a community path of financial integration to deal with the crisis. The paper stresses that Europe needs to focus on developing the "real economy" with swift and decisive policy action, rather than dwelling on denunciation of the banking sector and attempting to reform a finanical system that was built on unstable foundations from the beginning.

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