INTERECONOMICS, Vol 44, No.1 January/February 2009

Preventing Recession in Europe: National vs. European Approaches

INTERECONOMICS, Vol 44, No.1, January/February 2009

Selected articles contributed by CEPS are free in PDF; others may be purchased individually (or the entire contents of the journal) from

Forum: Preventing Recession in Europe: National vs. European Approaches

Policymakers in the EU member states are currently shaping rescue packages to prevent the financial crisis hitting their economies with unmitigated force. Each government is responding to the emerging problems with a country-specific set of measures. Given the global nature of the crisis, would coordinated action at the European level not be a better approach? Was the German government – much-criticised for its initial reluctance to adopt massive fiscal stimulation measures – right after all to exploit the option value of waiting in a situation of high uncertainty?

The articles of the forum can also be downloaded separately:

The Case against a Common Fiscal Boost in Europe

by Holger Schmieding

Seizing the European Day

by Tito Boeri

Fiscal Stimulus Packages, Uncertainty and Economic Crisis – Is the option of waiting valuable?

by Ansgar Belke

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