With the introduction of the Euro Europe reached a new level of identity. Internationally renowned authors analyse the major aspects of the unique architecture of the Economic and Monetary Union (EMU): on the one hand the legal status of its institutions, on the other hand the implications and possible steps towards reform of the new policy making in the Euro zone.
Table of contents:
Institutional and Legal Set-up of EMU: Institutional Framework of the EMU – Is the ECB a Fourth Pillar? (Dutzler); Excess reserves in the Eurosystem: an economic and legal analysis (Badinger/Dutzler); Public Undertakings under the EMU Excessive Government Deficit Criterion (Griller).- Fiscal Policy Framework – Room for Improvement?: The Stability and Growth Pact: Fiscal Policy in the EMU (Artis); On the Need for Inter-institutional Coordination in EMU: a re-evaluation of the theory of optimal currency areas (Hallet/Viegi).- Monetary Policy, Financial Markets and Payment Systems: Is ECB’s monetary policy optimal already? (Breuss); EMU and Issues in European Payment Systems (Habacht/Hoffenberg/Schubert); The euro as an international currency and its depreciation against the US-dollar (Fenz).- Enlargement and EMU: Eastern Enlargement of the European Monetary Union: An Optimal Currency Area theory view (Mahlberg/Kronberger); Monetary Union and Enlargement – Constrained by the Financial Sector? (Haiss)
Table of contents:
Institutional and Legal Set-up of EMU: Institutional Framework of the EMU – Is the ECB a Fourth Pillar? (Dutzler); Excess reserves in the Eurosystem: an economic and legal analysis (Badinger/Dutzler); Public Undertakings under the EMU Excessive Government Deficit Criterion (Griller).- Fiscal Policy Framework – Room for Improvement?: The Stability and Growth Pact: Fiscal Policy in the EMU (Artis); On the Need for Inter-institutional Coordination in EMU: a re-evaluation of the theory of optimal currency areas (Hallet/Viegi).- Monetary Policy, Financial Markets and Payment Systems: Is ECB’s monetary policy optimal already? (Breuss); EMU and Issues in European Payment Systems (Habacht/Hoffenberg/Schubert); The euro as an international currency and its depreciation against the US-dollar (Fenz).- Enlargement and EMU: Eastern Enlargement of the European Monetary Union: An Optimal Currency Area theory view (Mahlberg/Kronberger); Monetary Union and Enlargement – Constrained by the Financial Sector? (Haiss)