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Koordinace hospodářské politiky zemí EU a její meze (available in Czech only)

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Abstract

The coordination of the economic policies of the EU Member countries started in the early 90´ s has become a permanent feature of the European integration process. Gradually a rather complicated mechanism has evolved aiming to combine and complement policies pursued at EU level with policies conducted at Member countries level. In the paper the legal framework of the economic policy coordination is presented, main instruments and methods described and assessed. Among the instruments discussed attention is paid to the Main Economic Policy Guidelines, Employment Guidelines, Cardiff process, Cologne process, Lisbon process and the Stability and Growth Pact. All these instruments have something in common: they are based on consensus and include recommendations to the Member states, which, however, cannot be enforced, except for the fiscal policy framework. The Stability and Growth Pact is the only instrument making it legally possible putting sanctions against a non-complying country, non-respecting the rules of the Pact. As yet the Community does not possess any mechanism securing that the Member countries follow the recommended reforms. The main contribution of the economic policy coordination can be found in that it supports the mutual learning process.

Suggested Citation

  • Luděk Urban, 2007. "Koordinace hospodářské politiky zemí EU a její meze (available in Czech only)," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 1(2), pages 196-217, July.
  • Handle: RePEc:fau:aucocz:au2007_196
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    Keywords

    monetary policy; fiscal policy; coordination of economic policies;

    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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