series of proposals for improving the fiscal framework of the European Monetary Union, the Excessive Deficit Procedure and …

Eurozone in two parts. Part I explains why limited liability may have resulted in excessive debt accumulation: A commitment … problem of the European Monetary Union to no bailouts may have banished interest rate risk premiums inducing its member states …

This paper focuses on roots of strain in the European Monetary Union (EMU). It argues that there is need for a thorough …

baseline scenario, the projected public debt ratio reduction in Italy and Spain is too slow and does not meet the European …. More effective policies are needed to foster growth. But if all else fails, the European Central Bank's Outright Monetary …

created by the Maastricht Treaty on European Union and the Stability and Growth Pact have not been able to prevent a situation … like the one which has arisen in Greece. The European Monetary Union (EMU) faces a dilemma. On the one hand, the member … European Union's idea of integration, it is important to involve the International Monetary Fund (IMF) in concrete aid measures. …

öffentlichen Finanzen in den zwölf Gründungsstaaten der Eurozone (EURO12-Staaten). Sie ermittelt die tatsächliche …