Fiscal Compact and Outright Monetary Transactions

Dimitris N. Chorafas

Chapter 6 in Breaking Up the Euro, 2013, pp 119-143 from Palgrave Macmillan

Abstract: Abstract An adjunct to the Treaty of the European Union that established the euro as common currency, allegedly its alter ego, has been the Stability and Growth Pact (SGP). Its rules, indeed its very existence, were engineered by François Mitterrand, the French president, and Guilio Andreotti, the Italian prime minister, to trap Helmut Kohl, the German chancellor, into abandoning the deutschmark in favor of the euro. What become known as the Maastricht Treaty1 was signed in February 1992.

Keywords: Interest Rate; Gross Domestic Product; Central Bank; Public Debt; Balance Budget (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-33229-5_6

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DOI: 10.1057/9781137332295_6

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