Buti, Marco; Eijffinger, Sylvester; Franco, Daniele - Directorate-General Economic and Financial Affairs, … - 2003
, given the existing degree of political integration in EMU, internal adjustment rather than attempting to re-design the rules …The Stability and Growth Pact is under fire. Problems have appeared in sticking to the rules. Proposals to reform the …-offs typical of supra-national arrangements. In the end, only a higher degree of fiscal integration would remove the inflexibility …