Social Europe. Can the EU again improve people's life prospects?1 October 2014
László Andor maintains that restoring the capacity to achieve balanced growth and socio-economic convergence in Europe is a key condition for the EU to overcome the crisis and to regain output legitimacy. To achieve this, a predictable and rules-based mechanism of countercyclical fiscal transfers would be needed in the context of which EMU countries would share part of the costs of a short-term unemployment insurance (either via a basic European unemployment insurance scheme or through the reinsurance of national unemployment insurance schemes). Through such a scheme, it should be possible to create a European safety net for the welfare safety nets of individual Member States and to prevent short-term crises from unleashing longer-lasting divergence within the monetary union.Social Europe. Can the EU again improve people's life prospects?