COVER; COPYRIGHT; Contents; Figures; Tables; Boxes; Contributors; Abbreviations; Introduction; 1. Interests or expectations? A political economy model of the credibility of exchange rate agreements; 2. Is the SGP crisis also the crisis of the EU? Assessing the EMU from a structural, transatlantic perspective; 3. A dead Stability and Growth Pact and a strong Euro: there must be a mistake!; 4. Bringing domestic pressures back into the budget: Germany's Stability Pact and the new incentive structure in EMU.
5. Notes on the reformed SGP: creating and implementing effective macroeconomic frameworks6. The revision of the Stability and Growth Pact: the Medium-Term Objective; Conclusions: the demise and reform of the SGP and the future of EMU: towards the disruption of the European integration process?; Index.
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Analyses the circumstances and events leading to the demise and reform of the Stability and Growth Pact (SGP). This book aims to find a solution to the dilemmas posed by fiscal policy coordination in the context of a single currency area. It is intended for policy-makers and politicians as well as students in political science and economics.