Full Description
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.
Contents
Institutional and Legal Set-up of EMU Institutional Framework of the EMU - Is the ECB a Fourth Pillar? (Barbara Dutzler) Excess reserves in the Eurosystem: an economic and legal analysis (Harald Badinger/Barbara Dutzler) Public Undertakings under the EMU Excessive Government Deficit Criterion (Stefan Griller) Fiscal Policy Framework - Room for Improvement? The Stability and Growth Pact: Fiscal Policy in the EMU (Michael J. Artis) On the Need for Inter-institutional Coordination in EMU: a re-evaluation of the theory of optimal currency areas (Andrew Hughes Hallet/Nicola Viegi) Monetary Policy, Financial Markets and Payment Systems Is ECB's monetary policy optimal already? (Fritz Breuss) EMU and Issues in European Payment Systems (Rudolf Habacht/Walter Hoffenberg/Aurel Schubert) The euro as an international currency and its depreciation against the US-dollar (Gerhard Fenz) Enlargement and EMU Eastern Enlargement of the European Monetary Union: An Optimal Currency Area theory view (Bernhard Mahlberg/Ralf Kronberger) Monetary Union and Enlargement - Constrained by the Financial Sector? (Peter R. Haiss)
