NDA@SZTAKI

Risk factors in the establishment and running of EMU

sorozatcím: IWE working papers

egységesített cím: Risk factors in the establishment and running of EMU

Rácz Margit

beszerezve: 2006-05-31

2000-08-01 (eredeti változat)

Pénzügy, bankügy

euró

Európai Unió

monetáris politika

pénzügyi integráció

Kivonat: Taking a historic view of the preparations for monetary union remains
important even after the birth of EMU, because reform of the political
outlook of monetary integration created risk factors over the preparatory
period that would necessarily persist into the early years of its
operation. These risk factors are of two kinds. Reunified Germany will have
to find its place and interests within EMU, since it has not actually had
time to consolidate its national economy after integrating economically and
financially with the five East German provinces. Indeed the coincidence
with the process of preparing for and introducing EMU may have impeded the
reunification process. The Community has no clear concept of the further
integration and harmonization tasks that the introduction of monetary union
requires in the rest of economic policy and politics as a whole. Monetary
union can be seen as a last stage in creating a uniform single market.
However, it can also be seen not as the end-product, but as a commencement
from the macroeconomic point of view. Raising monetary policy to a
supranational level cannot leave intact fiscal policy or the whole
political sphere in general.
The initial statement to make about national economic policies in the EU
in the 1990s is that the challenges of preparing for EMU and the world
economic constraints pointed in the same direction. World economic
globalization can be said to have helped the introduction of EMU along,
since the group of countries preparing for EMU began to address the
requirements of globalization in the 1990s. Inflation in all
member-countries was radically reduced, budget deficit was kept small, and
high-taxation countries began to devise their first plans for cutting tax rates.
All these moves were of cardinal significance for the introduction of EMU.
It is only a slight exaggeration to say that without globalization, the
economic conditions for introducing EMU would never have been met at all...

angol

tanulmány(ok)

Text (DCMIType)

application/pdf (IMT)

http://mek.oszk.hu/03700/03777 (URI)

példányazononosító: MEK-03777

urn:nbn:hu-5766 (URI)

http://www.vki.hu (URI)

Risk factors in the establishment and running of EMU / Margit Rácz$Budapest : Institute for World Economics Hungarian Academy of Sciences, 2000$(IWE working papers, 1215-5241 ; 2000/112.)$ISBN 963 301 362 3

Csajbók Attila, Rezessy András: Hungary's eurozone entry date: what do the markets think and what if they change their minds? (http://mek.oszk.hu/03300/03341/)

Wikipédia: Európai Gazdasági és Monetáris Unió (http://hu.wikipedia.org/wiki/Eur%C3%B3pai_Gazdas%C3%A1gi_%C...)

Horváth Ágnes, Szalai Zoltán: Gazdasági és Monetáris Unió (http://mek.oszk.hu/03300/03340/)