The news of EMU's death is greatly exaggerated

Article Abstract:

Pessimism about the European Monetary Union (EMU) is rising due to problems encountered by the countries involved in the Exchange Rate Mechanism (ERM). The EMU provides for a single European currency called the European Currency Unit or ecu in the context of the Maastricht Treaty, the ratification of which would lead to the political and economic unification of the European continent. The ERM, on the other hand, has provided for the uniform fluctuation of European currencies within narrow bands since 1972. However, EMU membership prerequisites include inflation, interest, public deficit and exchange rate fluctuation levels to ensure that gaps between national economic performances are minimized, and only nine nations qualify to date. Non-ratification of the treaty by any country also presages EMU collapse, because a limited version of the EMU among successful applicants is likely to be short-lived.

Evaluation

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Tackling the age old problem: The Labour government's review aims to temper the eighties ideology of self-provision

Article Abstract:

The remit of the pensions review is to look at areas of insecurity for elderly people with regard to the basic pension and secondary pensions. The team undertaking the review will be headed by Tom Ross, vice-president of the National Association of Pension Funds (NAPF) and a pension fund consultancy director. Social security secretary Harriet Harman launched the review and promised that the self-employed, part time and full time workers and those on short term contracts will all be provided for.

Pension, health, and welfare funds, Pension Funds & Benefit Plans, Pension Funds, Reports, Pensions

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A hard pact to follow

Article Abstract:

Countries in the European Monetary Union will not be allowed to use their own fiscal policies to help their economies and this could cause problems because each country is likely to experience its own difficulties which are unique to itself. The Maastricht Treaty permitted countries some flexibility and time before penalties were incurred, however, the stability pact is much more restrictive. Details are given about why the stability pact is unnecessary, and how it should be changed.

Administration of General Economic Programs, Currency Stabilization Programs, Economic aspects, Economic policy, Currency stabilization

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