The euro's first test
Article Abstract:
European monetary union (EMU) has started smoothly in Jan 1999, but there are still risks of problems from fiscal policy. EMU involves an agreement on fiscal restraint which could lead to an excessively tight fiscal policy. Recessions lead to unemployment and capacity lying idle, and looser fiscal policy helps ease the problem. Monetary policy can no longer be varied on a national basis, which means that there is a case for greater flexibility with regard to fiscal policy.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
Eleven into one may go
Article Abstract:
European monetary union is scheduled to start on Jan 1 1999, and countries taking part have given authority to the European Central Bank (ECB) to have power over the new currency. The ECB has to maintain the stability of prices as its brief, and is independent of the member states of the European Union (EU). There are 11 members of the project, and the United Kingdom is not taking part. There is no provision for the withdrawal of any member once the project has started.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: The Infomercial's soft-sell sister. Navigating Cara. New cosmetics ad rules debut in June
- Abstracts: The German market for textile washing products: outlook: market performance
- Abstracts: The French market for textile washing products: prices & margins: typical margins
- Abstracts: Premier Oil confirms its intent to sell some noncore assets. Chesterfield Properties prepares to sell its assets
- Abstracts: Marketers test their ads on videos. Media outlets using CDs for branding