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Fiscal Policy and Monetary Union : Is There a Tradeoff between Federalism and Budgetary Restrictions?

Eichengreen, Barry; von Hagen, Jürgen - 2021

The Maastricht Treaty on Europe Union features an Excessive Deficit Procedure limiting the freedom to borrow of governments participating in the European monetary union. One justification is to prevent states from over- borrowing and demanding a bailout which could divert the European Central...

Persistent link: https://www.econbiz.de/10013249559