Convergence, the Maastricht Criteria, and Their Benefits
Developments forced a shift from the early heavy weight of political designs to economic considerations for a unified Europe. At the core of the European Economic Union are the Maastricht convergence criteria, which through monetary and fiscal stability aim at building the foundations of the euro. The costs and benefits of the monetary union appear to be small and rather difficult to estimate precisely, but the contribution of Maastricht stability rates to real per capita growth and the desire of countries to join the union suggest that inclusion is desirable and definitely preferable to exclusion.
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Volume (Year): 53 (2000)
Issue (Month): 4 ()
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