Economic Policies for Growth and Sustainability
Edited by Nikolaos Karagiannis and John E. King
Chapter 11: What future for the euro without fiscal integration?
Arestis presents the convergence Maastricht criteria and discusses briefly the theoretical framework that underpins the euro model while placing emphasis on the issues of the EMU fiscal and monetary policies. The author highlights some of the policy faults that lie at the heart of the euro, and raises the question of ‘whether the euro can be saved’. A positive answer requires political integration in the absence of economic integration in the European Union.
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