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like the EU deficit limits. The econometric results indicate that the decline is largely due to two developments: First to … privatisation process nor EU deficit restrictions of the Maastricht Treaty can explain the decline. …
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The view is widespread that there are just two options for the future of the Eurozone - either it is complemented by a fiscal union, or it will fall apart. In this paper, we discuss five possible elements of a fiscal union, of which three are in the centre of the current debate on fiscal union...
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