EU member states observe an elaborate process to preserve macroeconomic stability: the macroeconomic imbalance procedure (MIP). The MIP is supposed to monitor and prevent macroeconomic imbalances – and if necessary, correct them. It considers a variety of variables to determine the existence...

Floating exchange rates affect two basic principles of GATT, namely: stability of trade policy conditions and reciprocity of trade concessions. What is the relevance of the changes to foreign trade? What possibilities for surmounting the new problems exist in the realm of external economic...