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“Europe at a Crossroads: Towards a Fiscal Union?”

On January 22, 2014 Dr. István Benczes gave a lecture at Indiana University, where he is the Visiting Fulbright Professor in the Central Eurasian Studies and Economics Departments. Dr. Benczes is Associate Professor, Faculty of Economics and Associate Dean and Program Director for International and Scientific Affairs at Corvinus University of Budapest.

Dr. Benczes’ talk discussed the European Union’s current discussion on economic integration and the prospects for the future. After the recent economic problems facing various members of the European Union, many people have had debates about the future of the EU’s economic integration.  He highlighted four possible paths that have been discussed that the European Union may take. These four are Fiscal Rules, Crisis Resolution Mechanism, Mutual Debt, and Transfer Mechanisms. He discusses the four ‘roads’ at the current crossroads. After discussing the various proposals, Dr. Benczes makes the case for establishing a legal framework of transfer mechanisms in order to create a fiscal union is the best path forward for the European Union.

A recording of his lecture can be accessed here.