The Kiel Policy Package to Address the Crisis in the Euro Area

The reason why the Euro zone crisis has dragged on for so long is that Europe's leaders have focused too much on short-term measures to patch up the emergency of the moment, rather than formulating a comprehensive plan. The Kiel Policy Package, published as Kiel Policy Brief, comprises a set of short-term and long-term policy measures to overcome the crisis. Neither the short-term nor the long-term measures are sufficient on their own. Instead, they need to be implemented in conjunction with one another.