Fiscal Constraints and Supranational Money: From Maastricht (1992) to Lisbon (2007)

Fabio Masini

Chapter Chapter 3 in European Economic Governance, 2022, pp 43-74 from Springer

Abstract: Abstract This chapter illustrates the designing and early building of the current economic and economic-policy-coordination infrastructure in the EU, since its emergence from the Maastricht Treaty and later evolution with the foundation of the European Central Bank and the Stability and Growth Pact. It follows and highlights the political constraints, intellectual influences, both diverging and consensual assumptions behind the fragile management of the single currency with nationally decentralized and constrained budgetary policies, until the outburst of the US-led financial crisis in 2007–2008.

Keywords: Single currency; Fiscal rules; Supranational economic planning (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-13094-6_3

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DOI: 10.1007/978-3-031-13094-6_3

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