Titlebook: EMU — A Swedish Perspective; Lars Calmfors,Harry Flam,Anders Vredin Book 1997 Springer Science+Business Media Dordrecht 1997 European Unio

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Die Organisation des Betriebes,e. Few economic policy issues are characterised by such a great variety of arguments. It is almost impossible to find an argument that does not have one or more counter arguments. Our primary objective is to present the most important aspects in such a way that the book can serve as a basis for help

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Introduction, as a complement to the single market with its free movement of goods, persons, services, and capital. This step is one of the most far-reaching ones in the process of EU integration, because the member states of the monetary union will adopt a common currency (the euro) and delegate monetary policy

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The EMU Project,d. Section 2.2 presents the basic structure of the monetary union, as laid down in the Maastricht Treaty. Section 2.3 explains the organisation of the European Central Bank and its tasks. Section 2.4 provides a survey of certain key EU institutions, which are of importance for understanding the EMU

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,Currencies and Exchange-Rate Systems — A Background, national currency. Section 3.2 describes the differences between various exchange-rate systems. A monetary union may be seen as an exchange-rate system with irrevocably fixed exchange rates among the member countries. Its opposite is a system of floating exchange rates, such as the one that current

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Fiscal Policy and the EMU,ns how large government budget deficits and debts can be accepted. The second aspect relates to the role of fiscal policy in stabilising aggregate demand. The Maastricht Treaty contains . for the size of government budget deficits and debts in each country. These rules were amended in the Stability

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The EMU as a Political Project,t members of the EU. It is being implemented by the creation of new political institutions. It will probably play a significant political role in the process of further EU integration. And monetary policy is a central element in economic policy.

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