Crisis accelerated EMU development: ECB paper

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A European Central Bank paper, published on Thursday, finds evidence that the financial crisis in 2008 had accelerated the institutional development of Europe's Economic and Monetary Union (EMU).

Marion Salines, Gabriel Glöckler, Zbigniew Truchlewski and Paola del Favero, the paper's authors, examine how the institutional framework governing EMU has evolved since the creation of the euro. In particular, the authors are interested in learning whether functional spillovers from the single currency

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