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Vol 24 No 2 Feb/March 2019

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Economic and Monetary Union

ISBN13: 9780792320623
ISBN: 079232062X
Published: July 1993
Publisher: Brill Academic Publishers
Format: Hardback
Price: Out of print

The Heads of State and Government at the European Council meeting in Maastricht definitely decided to embark upon the creation of Economic and Monetary Union by, at the latest, the beginning of 1999, and in doing so opted for a relatively short but difficult journey that should bring the European Community all the benefits one could expect from such an undertaking. However, the question still remains of how economic and monetary union will really affect the day-to-day policy making of the national civil servants involved, particularly in the areas of monetary and fiscal policies.;Can national policymakers adopt a ""sit-and-wait"" policy or does uconomic and monetary union really entail a dangerous voyage between Scylla and Charybdis? Will economic and monetary union undermine the sovereignty of national governments because the Maastricht Treaty will give the EC the competence to dictate its own will? Are the benefits of Economic and Monetary Union for the Member States really as great as expected? These and other issues are assessed in this book which, after an assessment of the achievements of the Maastricht European Council, covers the main implications of a European monetary policy and closer economic cooperation for the relevant policies of the Member States, the division of the competencies between Community and member countries and the forthcoming prospects for new EC policies (regional policy, the EC budget and fiscal union)

Law and Economics
Section 1 From EMS TO EMU: The Winds of Change are Blowing Hard. The European Monetary System - The Dialectic of Economics and Politics, K. Gretschmann, H.H. Kotz, O. Sleijpen. Mastering Maastricht - EMU issues and How They Were Settled, A. Italianer. Regime Switch for Outsiders - The Case of Austria, A. Doerfel. B. Eggle, A. Schubert.
Section 2 Central Bank Policy in a New Institutional Framework. The European Central Bank and the Role of National Central Banks in Economic and and Monetary Union, I. Harden. Convergence of Monetary Policies in Europe - Concepts, Targets and Instruments, S. Eijffinger. Economic and Monetary Union - A German Central Banker's Perspective, R. Jochimsen.
Section 3 Spill-Overs Resulting from EMU: From Regional Cohesion to Fiscal Union. The impact of an Economic and Monetary Union on Social-Economic Cohesion: Analysis and Ensuing Policy Implications, W.Molle, O. Sleijpen, M. Vanheukelen. The Impact of Economic and Monetary Union on Member States' Fiscal Policies, P.van den Bempt. European Fiscal Union - Sweet Dreams or Nightmares?, K. Gretschmann. By Way of Conclusion: Will Policy-Makers be EMUsed?, K. Gretschmann.