The EMU debt criterion: an interpretation
The convergence criteria specified in the Maastricht Treaty on government deficit and debt, inflation, the exchange rate and the long-term interest rate will play an important, if not decisive, role in determining which countries move on to the third stage of the Economic and Monetary Union (EMU). T...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
1997-12-01
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| Series: | PSL Quarterly Review |
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| Online Access: | http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/10586/10470 |
| _version_ | 1819056881235132416 |
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| author | R. BERNDSEN |
| author_facet | R. BERNDSEN |
| author_sort | R. BERNDSEN |
| collection | DOAJ |
| description | The convergence criteria specified in the Maastricht Treaty on government deficit and debt, inflation, the exchange rate and the long-term interest rate will play an important, if not decisive, role in determining which countries move on to the third stage of the Economic and Monetary Union (EMU). The aim of this work is to provide a possible interpretation of the EMU debt criterion. The author investigates the government debt criterion which, as Article 104c(2b) of the Treaty shows, has a considerable scope for interpretation. Although this subject has been discussed extensively, relatively little work has been done to develop a clear interpretation of the EMU debt criterion. A flexible approach is adopted in which parts of the relevant Treaty text are characterised using two parameters. |
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| format | Article |
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| institution | Directory Open Access Journal |
| issn | 2037-3635 2037-3643 |
| language | English |
| last_indexed | 2024-12-21T13:30:27Z |
| publishDate | 1997-12-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | PSL Quarterly Review |
| spelling | doaj.art-f093487cb7bf48a9bc2a3b185ccff2142022-12-21T19:02:20ZengAssociazione Economia civilePSL Quarterly Review2037-36352037-36431997-12-0150203505532The EMU debt criterion: an interpretationR. BERNDSENThe convergence criteria specified in the Maastricht Treaty on government deficit and debt, inflation, the exchange rate and the long-term interest rate will play an important, if not decisive, role in determining which countries move on to the third stage of the Economic and Monetary Union (EMU). The aim of this work is to provide a possible interpretation of the EMU debt criterion. The author investigates the government debt criterion which, as Article 104c(2b) of the Treaty shows, has a considerable scope for interpretation. Although this subject has been discussed extensively, relatively little work has been done to develop a clear interpretation of the EMU debt criterion. A flexible approach is adopted in which parts of the relevant Treaty text are characterised using two parameters.http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/10586/10470Economic and Monetary UnionGovernment debt criterionMaastricht Treaty |
| spellingShingle | R. BERNDSEN The EMU debt criterion: an interpretation PSL Quarterly Review Economic and Monetary Union Government debt criterion Maastricht Treaty |
| title | The EMU debt criterion: an interpretation |
| title_full | The EMU debt criterion: an interpretation |
| title_fullStr | The EMU debt criterion: an interpretation |
| title_full_unstemmed | The EMU debt criterion: an interpretation |
| title_short | The EMU debt criterion: an interpretation |
| title_sort | emu debt criterion an interpretation |
| topic | Economic and Monetary Union Government debt criterion Maastricht Treaty |
| url | http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/10586/10470 |
| work_keys_str_mv | AT rberndsen theemudebtcriterionaninterpretation AT rberndsen emudebtcriterionaninterpretation |