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...Economic policy coordination in emu institutional and political requirements by stefan collignon london school of economics paper presented at the center for european studies ces harvard university l institut d etudes europeennes de universite montreal et mcgill revised version october correspondance institute science houghton street wca ae tel s lse ac uk home page www stefancollignon abstract this looks macroeconomic performance since it started argues that euroland has benefited from a benign environment appropriate monetary structural reforms however there is no institution clearly charge formulating coherent policies reflected euro external value then evaluates need distinguishing between weak strong forms failure shows intergovernmental may be an answer to latter pareto improving multiple equilibria overcoming requires further delegation eu level particularly definition aggregate fiscal stance yet only possible if democratic deficit resulting cooperation closed wide consensus ach...