Two groups of countries in the euro zone in terms of their view of the organisation of the zone

There are currently two groups of countries in the euro zone that differ by their view of the best institutional organisation: The group of countries that want coordination of tax, social and labour market policies, a federal budget and a euro-zone industrial policy (France, Spain, Portugal); The group of countries (Germany, Netherlands, Finland, Austria, Baltic countries) that reject economic policy coordination and a further move towards an increasingly significant element of federalism and that want each euro-zone countr y to comply with the rules ( budgetary , cost competitiveness). Since the current institutions correspond to the view of the rule-based euro zone, and since unanimity among the member countries is needed to change institutions, it is this view , held by the Northern euro - zone countries , that probably will persist, leading to significant economic inefficiency due to the lack of coordination of policies that generate externalities, the lack of use of the single market and excessive fiscal austerity.