The European exchange rate mechanism and the European Monetary Union

Article Abstract:

The viability of the exchange rate mechanism being used in preparation for the Economic Monetary Union (EMU) and the significance of the EMU are analyzed. It is argued that the exchange rate mechanism is an essential precursor for the EMU given the resistance of strong currency countries. It is also argued that the EMU will promote economic integration in Europe which will strengthen its position in the global market.

European Monetary System

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Solvency and sustainability of fiscal policies in the EU

Article Abstract:

The fiscal policies of eight European Union countries are empirically tested for solvency and sustainability. Solvency is based on the budget limitations of the governments. Short-term analysis reveal the need for fiscal policy reforms for sustainability. Budget deficits incurred for a long period of time reflects the intertemporal budget balance concept, provided fiscal reforms are made.

Economic aspects

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The precarious fiscal foundations of EMU

Article Abstract:

European monetary union may be affected by stresses arising from deflation or inflation, and may not have the fiscal institutions needed to deal with these problems.

Europe, Prices, Western Europe, Monetary unions

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