ECB's Stark on the euro area's role

In the speech 'The euro area's role in the global economy' given on 13 October Jurgen Stark of the ECB said while EMU is a success story with respect to the single monetary policy a lot needs to be done in the areas of fiscal policies and structural reforms.

"In fact, the advent of the euro has rekindled the interest of outside policy makers and academics in the European experience with regional economic integration, this time with particular regard to the monetary sphere. While this should not

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