Икономическият и паричен съюз – една година след доклада на петимата председатели
Economic and Monetary Union - One Year After the Five Presidents Report

Author(s): Kaloyan Simeonov
Subject(s): Politics / Political Sciences, Politics, EU-Accession / EU-DEvelopment, Fiscal Politics / Budgeting
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: European Economy; European Economic Integration; Economic and Monetary Union; EMU; Five Presidents Report; Monetary Union; Fiscal Union
Summary/Abstract: Establishing the Economic and Monetary Union (EMU) in the 1990s was, like most of the major EU projects, a compromise within what was achievable at that time. The single monetary policy pursued by the supranational European Central Bank has begun to be combined with the coordination of the economic and fiscal policies of the euro area member states. An imbalance was initially created in the EMU architecture - no matter how strong a coordination of economic and fiscal policies is, it is difficult to successfully complement the single and supranational monetary policy in the euro area. The EU member states continued to take different in terms of directions and impact decisions on their economic development, structural reforms, budgetary discipline and the use of public debt as a tool to influence on or solve problems.

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