Experts argue that European Monetary Union (EMU) has to be completed by ‘automatic fiscal stabilisers’. Welfare states have built-in stabilisers which cushion economic shocks—unemployment benefits, for instance, support the purchasing power of people who lose their jobs and so sustain effective demand. The argument about EMU is that a monetary union needs mechanisms to buttress or complement the automatic stabilisers of its member states. One option would be reinsurance of national unemployment-benefit schemes at the eurozone level.
A survey across European Countries found surprising levels of support for such an initiative. Read more https://www.socialeurope.eu/unemployment-reinsurance
See the latest Newsletter from the Global Coalition for Social Protection Floors http://www.socialprotectionfloorscoalition.org/2019/01/gcspf-newsletter-19-january-2019/ This edition outlines policy consideration that the GCSPF believe that the IMF should take account of when preparing its new institutional view on how to address social protection in its work with member countries. The GCSPF also critiques the World bank consistent view that Social Protection is for the ‘poor’ arguing instead in favour of truly universal social protection systems.
This edition also highlights the European Parliament’s Intergroup on Fighting against Poverty and EAPN’s event in the European Parliament, exchanging on the European Anti-Poverty Network’s 2018 Poverty Watch Reports.