50 cent 2
Blog
 February 
1,
 2016
  By Dr Tom McDonnell

The euro crisis may be burning at a low heat but that doesnt mean the euro area is any better designed than it was six months ago. The latest NERI inBrief and accompanying working paper and presentation discuss the causes of the euro crisis. They argue that long-term success and stability for the currency union depends on the implementation of a package of complementary policy reforms. Policies discussed include:

  • The creation of a conditional lender of last resort for sovereigns
  • The construction of a full and genuine banking union
  • The establishment of a small centralised fiscal mechanism funded from some hypothecated Eurozone tax (but not full fiscal federalism)
  • The application of  differentiated inflation targets and better mechanisms to ensure better coordination between countries.

Dr Tom McDonnell

Tom McDonnell is co-director of the Nevin Economic Research Institute and is based in the Dublin office. In addition to managing staff in the Dublin office he has co-responsibility for the NERI's research programme and for its strategic direction.  

He is also responsible for, among other things, the NERI's analysis of the Republic of Ireland economy including risks, trends and forecasts. He specialises in economic growth, economics of innovation, Irish and European economies, and fiscal policy. 

He previously worked as an economist at TASC and before that was a lecturer in economics at NUI Galway and at DCU. He has also taught at Maynooth University (MU) and is currently an occasional staff member at MU. 

Tom obtained his PhD in economics from NUI Galway. He is a native of Limerick city and lives in Maynooth.

Contact: [email protected] or 00353 1 889 77 42.