Discussion of Chapters 4, 5 and 6

John Driffill

A chapter in From EMS to EMU: 1979 to 1999 and Beyond, 1999, pp 156-160 from Palgrave Macmillan

Abstract: Abstract These three chapters provide fascinating accounts of how France, Germany and Italy met the Maastricht criteria and got into EMU. They expose a number of sharp contrasts and similarities between the experiences of the three countries. A surprising contrast stands out and strikes the reader immediately, in some ways confirming but in other ways overturning stereotypical views of the countries in question. The account of Italy, in the South, is one of superficial disarray covering deeper currents of systematic change. By contrast Germany, in the North, is presented as a country in which, behind the stern facade, discipline and order were less than might have been expected. France, between the two, is shown as a country in which the road to EMU was strewn with unexpected obstacles, but in which there is closer correspondence between the surface show and the deeper forces at work.

Keywords: Government Expenditure; Real Effective Exchange Rate; Employment Protection Legislation; Growth Pact; National Debt (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-27745-2_9

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DOI: 10.1007/978-1-349-27745-2_9

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