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This contribution develops a theory on the impact of differentiation on integration and unity among EU member states … and discusses empirical evidence from four policy areas. According to the theory, the centripetal effects of closer … respective policy area in terms of public goods theory. The eventual participation of initially reluctant member states, which …
Persistent link: https://www.econbiz.de/10011581351
This contribution develops a theory on the impact of differentiation on integration and unity among EU member states … and discusses empirical evidence from four policy areas. According to the theory, the centripetal effects of closer … respective policy area in terms of public goods theory. The eventual participation of initially reluctant member states, which …
Persistent link: https://www.econbiz.de/10014129884
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Target is a real time gross settlement (RTGS) large value payment network operated by European central banks that eliminates systemic risk. Euro1 is a privately operated delayed net settlement (DNS) network that reduces substantially systemic risk but does not eliminate it. This difference makes...
Persistent link: https://www.econbiz.de/10003023517