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international competition from EU, Japan, and later from China and the other emerging economies had played a pivotal role in the …-term harmful effects for the global economy. In addition, the inability of the EU to establish an optimal currency area has …
Persistent link: https://www.econbiz.de/10009352458
After the fuzziness in Europe that surrounded the implementation of the excessive deficit procedure foreseen by the Stability and Growth Pact (SGP), the European Union had to restore the credibility of the weakened fiscal rule. The constraint was to keep alive the Treaty of Amsterdam. Indeed, an...
Persistent link: https://www.econbiz.de/10010691758