Böwer, Uwe (contributor) - 2007
preparation for EMU. With the
implementation of the Stability and Growth Pact, �scal policy seems to have become less
pro …-periphery distinction and assert that only a few core EU countries would be
suited for EMU.
Another branch of the literature adopts a more … . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104
4 Risk sharing, �nancial integration and Mundell II in the enlarged Eu-
ropean Union 109
4.1 Risk sharing …