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"Fiscal convergence and stability in the EMU: Alchemy, missed opportunities, and commitment institutions"

Leblond, Patrick. (2003) "Fiscal convergence and stability in the EMU: Alchemy, missed opportunities, and commitment institutions". In: UNSPECIFIED, Nashville, TN. (Unpublished)

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    Abstract

    Since the spring of 2002, there has been renewed debate and discussion regarding the value and pertinence of the Stability and Growth Pact (SGP) of the European Monetary Union (EMU). This debate arose because Germany and Portugal have breached the reference value set out in the SGP for budget deficits, and France and Italy are dangerously close to breaching it. Furthermore, France has until now categorically refused to respond to warnings from the Commission and the Council of Ministers, and, therefore, play by the rules of the SGP. In light of this alleged crisis in the EMU, the paper explains how the crisis came to take place, to what extent the EMU's fiscal policy institutions are to blame, and how, as a result, they can be improved. Finally, it assess whether the alleged SGP crisis threatens the future stability of the EMU.

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    Item Type: Conference or Workshop Item (UNSPECIFIED)
    Uncontrolled Keywords: Stability and Growth Pact.
    Subjects for non-EU documents: Countries > Italy
    Countries > France
    Countries > Germany
    Countries > Portugal
    EU policies and themes > Policies & related activities > economic and financial affairs > Stability and Growth Pact
    EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Conference: European Union Studies Association (EUSA) > Biennial Conference > 2003 (8th), March 27-29, 2003
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 23 Feb 2005
    Page Range: p. 47
    Last Modified: 15 Feb 2011 17:24
    URI: http://aei.pitt.edu/id/eprint/2886

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