Niels Thygesen: Optimal Currency Areas and Governance - The Challenge of Europe (4/8)

The video discusses Europe's role in the global economy, focusing on the historical evolution of monetary integration and the challenges faced in forming an optimal currency area. It covers the development of the European Monetary Union, the impact of the single market, and the shift in fiscal policy coordination. The video also addresses reforms in the EMU, the introduction of crisis mechanisms, and the concept of symmetry in economic policies. It concludes with a discussion on the trilemma and future challenges in maintaining economic stability.

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