تجربة الاتحاد النقدي الأوروبي في مجال التنسيق بين السياستين المالية والنقدية

This study presents the experience of the European Monetary Union (EMU) countries as an example for external coordination of fiscal and monetary policies under a fixed exchange rate regime. The Euro area is considered as a unique example since the coordination of the policies is achieved through an independent European Central Bank and the fiscal authorities of the member countries. This study reviews the coordinating arrangements and the mechanism required for the effectiveness of policy coordination.