Buti, Marco; Eijffinger, Sylvester C W; Franco, Daniele - C.E.P.R. Discussion Papers - 2003
the existing degree of political integration in EMU, however, internal adjustment rather than attempting to redesign the …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 …