European Union at the end of 1997: who is within the public finance 'sustainability' zone?

Article Abstract:

The Maastrich Treaty of 1992 contains regulations on the eligibility of European Union (EU) member countries to join the single currency. The four requirements include the level of price stability of the top three EU countries, sustainability of public finance standing, adherence to normal fluctuation margins set by the European Monetary System, and endurance of the coordination of long-term interest rates. The countries of Belgium and Italy, which were shown to have higher debt/GDP ratios, may achieve convergence sooner through privatization of public debt enterprises.

Public Finance Activities, National Government Finance, Economic aspects, Finance, Public finance, European Union, Sustainable development

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Comment

Article Abstract:

Stanley Fischer's and Carl-Johan Lindgren's paper on the role of the International Monetary Fund highlights the effectiveness of the fund in managing and preventing financial crises. The fund however, should be ready to mediate other crises that it is not mandated to do as it is in the best position to do so by coordinating and cooperating with governments and businesses.

Analysis, International Monetary Fund, Political aspects, Powers and duties, International finance

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