Current developments in Greece make clear that the rules of the European Stability and Growth Pact (SGP) were neither strict enough nor enforced strictly enough. To deal with the ongoing exit from the fiscal crisis and its related phenomena, we propose a new framework for fiscal policy...

It is again being argued that the low labour costs and social standards in countries on the periphery of the EC - Greece, Ireland, Portugal and Spain - jeopardise employment in the northern EC countries and the social safety net they have constructed. A common social policy harmonising...

In the debate about the world monetary order there is agreement that greater stability in international currency relationships would be desirable. Could a system of fixed exchange rates between the currencies of the major industrial countries put an end to the present instability? What would be...