This book examines fiscal policy coordination in EMU and the
required adjustments to national fiscal policies by EMU member
states. It presents a coherent view of German fiscal policy
following the creation of the Stability and Growth Pact in 1995-97
and the implementation of the Stability Pact in 1997. The book
shows that, in the process of Europeanization, national interests
have had a major impact on the formation of fiscal policy
coordination. It also shows how European fiscal policy coordination
has affected national fiscal policies and policy implementation in
EMU, and how changes in national interests have finally launched
the reform process of the original Stability Pact and a new phase
or Europeanization.
General
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