Ins and outs
Article Abstract:
The Maastricht Treaty does not fully tackle the issue of relations between European Union (EU) members taking part in European monetary union (EMU) and those that are outside the project. The aim is for the four countries outside EMU to join as soon as possible. This may not occur if there are problems with EMU, and there is also the issue of the enlargement of the EU. The members outside the project may be expected to cooperate with EMU participants as a sign of good faith. Political weight is also likely to be greater for EU members who are taking part in EMU.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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Europe swerves left
Article Abstract:
The election of a Social Democratic government in Germany could mean a move to the political left in Europe at a time when monetary union implies fiscal and monetary austerity. There are 11 likely members for the euro, and nine are controlled by governments of the left. There is a need for fiscal discipline in Europe, and there is less of a case for cutting interest rates in Europe than in the US. Price stability should be the main goal of the European Central Bank, which cannot affect employment through monetary policy over the long term.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
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Lights, camera...oops
Article Abstract:
European monetary union is scheduled to start in Jan 1999 abd there is concern that it will be launched at a time of world financial turmoil. European policymakers tend to think that the euro will not be affected by the world crisis, but European banks have lent to Asian economies and the euro may rise in value as the US dollar falls, depressing growth in Europe. Structural reforms are needed in Europe in order for labor markets to operate freely, and product markets should also be deregulated.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
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