Political Economy Of Eurozone Crisis: Is Fiscal Union Feasible?

Mendel University, Brno, Czech Republic

November 22 -- 23, 2012

Conference Programme

 The crisis of the European Economic and Monetary Union entered remain on the economic-policy agenda. The longer term structural and governance problems for the EMU remain and may even intensify. The recent experiences highlighted the key role of the structural differences among the Eurozone countries and the need to address them. Without it, the long term prospects of the Euro common currency are in doubt.

The prevalence of professional opinions today indicate that the "Fiscal Union" may be necessary to reconcile the survivability of the common currency with the structural diversity of the EMU member countries, especially when the latter involves not only economic, but political, social and historical realities as well. However, the meaning of the "Fiscal Union" remains unclear, with only a vaguely defined content, controversial governance structures, and, what is perhaps most important, the ill defined and unanalyzed economic functioning. The political wishes and dreams to preserve the common currency Euro dominate the economic analysis -- exactly the approach which brought us the current crisis. A thorough discussion of the concept of 'fiscal union' is needed, exploring the various meanings of the concept, what it may include, what structural arrangements are economically feasible, possible governance structures and, indeed, the likely robustness of various arrangements in the dynamic globalized economy of the 21st century. And last but not least, what political arrangements are compatible with the different models of "fiscal union."

These issues will be address by the research and analysis at the conference at the Mendel University in Brno, Czech Republic in November 22-23, 2012. Especially (but not exclusively) the following issues will be discussed:

1. History:  Maastricht Treaty and Beyond: Broadening and Deepening
2. Trip down memory lane: Eurozone 1999 - 2009
3. Does OCA necessitate a fiscal union? Has the OCA-endogeneity hypothesis to be reconsidered?  
4. After 2009: Economic theory encounters political and social realities
5. Challenges and Strategic Choices Facing the EU: Is The Fiscal Union Feasible?
6. "Fiscal Union": Concepts and the future
7. Savings and Current accounts
8. Eurozone's Demographics and Fiscal Stance: Implications the Future? 

The Format of the Conference:

The language of the conference is English. All submissions will be reviewed by independent experts in their fields. Selected papers will be presented in 7 to 8 sessions. Each presentation will be discussed. Selected papers and discussion contributions will be published in the form of a conference volume (book).

The conference will take place on the premises of the Mendel University in Brno, Czech Republic. For the contributing participants, rooms will be reserved in Brno hotels. Registration costs (which do not include travel and lodging) are estimated today at Euro 190.  

Organizing Committee: Prof. Antonin Rusek, Susquehanna University, Selinsgrove, USA Prof. Dr. Jarko Fidrmuc, Zeppelin University Friedrichshafen, Germany Assoc. Prof. Lubor Lacina, Mendel University, Brno, Czech Republic, Dr. Petr Rozmahel, Mendel University, Brno, Czech Republic 

Important dates:

Deadline for submitting abstracts (350-500 words)         September 7^th, 2012

Notice of Acceptance                                                          September 14^th, 2012

Submission of the full paper:                                             November 1^st, 2012