Part III Preconditions for Successful Euro Adoption: Fiscal Policy and Labor Markets
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Susan M Schadler
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Abstract

European Union (EU) membership has important consequences for the fiscal policies of the new member states. While fiscal policy remains a national responsibility for European Monetary Union (EMU) member states, it is placed under several constraints and subject to a variety of procedures.1 These constraints and procedures aim at coordinating the fiscal policies of the member states to achieve certain Community goals and at safeguarding the sustainability of the member states’ public finances.

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