Reductions in the generosity of unemployment benefits and social assistance are found to leave poor households behind” (see Causa, O., Hermansen, M. and Ruiz, N. (2016), “The distributional impact of structural reforms”, Economics Department Working Papers, No 1342, Organisation for Economic Co-operation and Development, November).
But one that would exert direct responsibilities in at least three domains: first, the rigorous surveillance of both fiscal policies and competitiveness policies with the capacity, in exceptional cases, to take decisions immediately applicable in a particular economy that puts the euro area financial stability in danger; second, all the typical responsibilities of the executive branches as regards the union’s integrated financial sector, so as to accompany the full integration of financial services; and third, the representation of the union in international financial institutions.