[EU Currency Union and Disciplines for Financial・Moneatry Policies]
AbstractThis paper takes an overview over the historical paths toward the Economic and Currency Union launched in EU in the post-WWII era. Namely, it covers Snakes, European Monetary System, and establishment of the Economic and Currency Union. Moreover, the paper analyzes the uniform monetary policy implemented in Euro Area by reviewing the growing tentions among mamber states (which had been revealed particularly when the global financial crisis erupted in late 2007), as well as the factors contributing to the difficulty in implementing a uniform monetary policy. Third, this paper focuses on the disciplinary process of the fiscal policy (set under the Maastricht Treaty and Stablity and Growth Pact). In particular, the theoretical rationals for introducing the region-wide fiscal disciplins, as well as actual peformance of mamber states will be covered.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 15713.
Date of creation: Jun 2009
Date of revision:
Currency Union; Exchange Rate Mechanism; European Union;
Find related papers by JEL classification:
- F15 - International Economics - - Trade - - - Economic Integration
- F31 - International Economics - - International Finance - - - Foreign Exchange
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- Jean-Paul Fitoussi & Francesco Saraceno, 2008.
"Fiscal Discipline as a Social Norm: The European Stability Pact,"
Journal of Public Economic Theory,
Association for Public Economic Theory, vol. 10(6), pages 1143-1168, December.
- Jean-Paul Fitoussi & Francesco Saraceno, 2008. "Fiscal Discipline as a Social Norm: The European Stability Pact," Sciences Po publications info:hdl:2441/9909, Sciences Po.
- Jean-Paul Fitoussi & Francesco Saraceno, 2007. "Fiscal Discipline as a Social Norm: The European Stability Pact," Documents de Travail de l'OFCE 2007-22, Observatoire Francais des Conjonctures Economiques (OFCE).
- Jean-Paul Fitoussi & Francesco Saraceno, 2007. "Fiscal discipline as a social norm : the European Stability Pact," Sciences Po publications nÂ°2007-22, Sciences Po.
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