scholarly journals European Monetary Fund – A Further Step towards Completing the Economic and Monetary Union?

2019 ◽  
pp. 515-524
Author(s):  
Johan Schweigl
Keyword(s):  
Monetary Union ◽  
Financial Assistance ◽  
Economic And Monetary Union ◽  
Financial Policy ◽  
European Monetary ◽  
The Public ◽  
European Monetary Fund ◽  
The Eu ◽  
The Way

In this paper, the author focused on two areas. First he outlined the development of the financial assistance funds in Europe. Moving from EFSF and EFSM through ESM all the way to EMF was a long path. Will the EMF be a further step towards completing the economic and monetary union of the EU? It is the question the author tried to answer in the first part of the paper. Secondly, the author considered the position the EMF and the financial assistance funds have within the branch of financial law. Mainly, he tried to find answers to the question in which sub-policy within the public financial policy the financial assistance policy of the states (of the EU) belong and whether the public financial funds are rather of fiscal or non-fiscal nature. Having presented possible answers to these questions, the author expressed his hopes to instigate discussion among the financial law scholars on this topic.

scholarly journals Financial crisis and forming of the European monetary fund: Should the European Agreement be changed

2010 ◽  
Vol 62 (4) ◽  
pp. 585-601
Author(s):  
Pero Petrovic ◽  
Aleksandar Zivkovic
Keyword(s):  
European Union ◽  
Financial Crisis ◽  
Financial Assistance ◽  
The European Union ◽  
European Monetary ◽  
European Monetary Fund ◽  
The Eu ◽  
The Imf

In this paper, the authors analyze the possibilities and advantages of realization of the idea of creating the European Monetary Fund, the European equivalent of the IMF. European officials and experts believe that the financial crisis in the European Union, as was the case in Greece, can be successfully solved within the EU institutions. The assistance that the EMF would provide would be stipulated by fulfilment of strict conditions. The ECB, which insists on independence, would join it in establishing this mechanism, since not any has been created so far that would provide financial assistance to members of the Eurozone.

Towards a New Form of EU Law?: The Use of EU Institutions outside the EU Legal Framework

2013 ◽  
Vol 9 (1) ◽  
pp. 37-72 ◽  
Author(s):  
Steve Peers
Keyword(s):  
Monetary Union ◽  
Legal Framework ◽  
Financial Assistance ◽  
Economic And Monetary Union ◽  
Economic Governance ◽  
Patent Litigation ◽  
Eu Law ◽  
Court Of Justice ◽  
New Form ◽  
The Eu

Economic governance – Financial assistance – Economic and monetary union – Patent litigation – Treaties between member states – Jurisdiction of the Court of Justice – powers of the EU institutions – Enhanced cooperation

The euro - our future in Europe

1998 ◽  
Vol 4 (1) ◽  
pp. 48-57
Author(s):  
Christa Randzio-Plath
Keyword(s):  
Monetary Union ◽  
Economic Conditions ◽  
Economic And Monetary Union ◽  
Democratic Accountability ◽  
The European Union ◽  
European Monetary ◽  
European Central ◽  
Economic Framework ◽  
Monetary Authorities ◽  
European Monetary Policy

Economic and Monetary Union has been created to complete the single market, to provide optimal macro-economic conditions for employment-enhancing growth and to promote further political integration in the European Union. Unfortunately in the discussion about monetary union the reasons why Europe needs EMU have been almost forgotten. As the future European Central Bank will be solely responsible for European monetary policy and thus be influencing strongly the overall macro-economic framework in Europe, the question of democratic accountability of monetary authorities needs to be debated. EMU is Europe's answer to the challenges of the 21 st century.

I conti pubblici nel decennio 1998-2007: fattori temporanei, tendenze di medio periodo, misure discrezionali

2009 ◽  
pp. 139-175
Author(s):  
Sandro Momigliano ◽  
Maria Rosaria Marino ◽  
Pietro Rizza
Keyword(s):  
Monetary Union ◽  
European Monetary Union ◽  
Capital Expenditure ◽  
Economic Cycle ◽  
European Monetary ◽  
Public Finances ◽  
The Public ◽  
Rapid Deterioration ◽  
Structural Improvement

- The paper examines the development of Italy's public finances after the consolidation period 1992-97, which secured participation in the European Monetary Union from the outset. The «structural» developments in the main budgetary components are assessed, excluding the effects of the economic cycle and of temporary measures. The analysis shows a rapid deterioration in the years 1998-2003, whose roots can be traced back to the consolidation of the early 1990s, achieved primarily by means of tax increases and cuts in capital expenditure. Since 2004 there has been a structural improvement, initially modest but substantial in 2006 and 2007. Sustaining this adjustment and making further progress may again prove difficult, as the fiscal correction is similar in nature to the previous consolidation effort. Looking at the whole period 1998-2007, the deterioration of the public finances seems attributable to the difficulty to restrain the growth of current primary expenditure.

The Crisis-Induced Developments in the Economic and Monetary Union

2020 ◽  
pp. 18-65
Author(s):  
Menelaos Markakis
Keyword(s):  
Economic Integration ◽  
Monetary Union ◽  
Euro Area ◽  
Economic And Monetary Union ◽  
Member States ◽  
Legal Principle ◽  
Democratic Control ◽  
Economic Developments ◽  
Eu Economic Governance ◽  
The Eu

This chapter looks at the crisis-induced legal, institutional, and economic developments within the Economic and Monetary Union. It consists of two parts. First, there will be a brief sketch of the crisis-related developments. These include the setting-up of financial mechanisms, the European Central Bank’s interventions to combat the crisis, the enhanced oversight of national fiscal and economic policy, and the increased supervision over the financial sector. Second, there will be a ‘first assessment’ of their constitutional and structural implications. Two sets of issues will be examined here: issues of legal principle; and the bearing of the enacted measures on European economic integration. Three key arguments will be made in this chapter. First, it will be argued that the measures enacted have led to legislative fragmentation and have exacerbated problems of transparency and complexity which already existed in this area. Second, it will be shown that the chosen form of action has consequences for institutional balance in the EU, democratic control, and judicial review. Third, it will be argued that the enactment of measures which are only applicable to Euro area Member States has served to deepen economic integration within the Euro area and to further differentiate it from economic integration in non-Euro area Member States. Further, certain areas of the single market have integrated more deeply in the Euro area. It will be concluded that the various reforms which have been implemented have strengthened the EU economic governance framework from a legal, institutional, and economic perspective.

European union: stability or instability for small periphery economies

2001 ◽  
Vol 10 (4) ◽  
Author(s):  
Serhan Çiftçioglu
Keyword(s):  
European Union ◽  
Czech Republic ◽  
Monetary Union ◽  
Economic And Monetary Union ◽  
Small Open Economies ◽  
The Czech Republic ◽  
Wage Indexation ◽  
Union Stability ◽  
Monetary Instability ◽  
The Eu

The main focus of this paper is to analyze the likely consequences of the possible increase in the monetary instability and decrease in the rate of wage indexation in the EU (that can result from the completion of economic and monetary union) on the macroeconomic stability of small, open economies which are in the process of integration with the EU. Such periphery countries include countries as Poland, the Czech Republic, Hungary, Slovakia, Turkey and others.

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