By James D. Savage
The Maastricht Treaty and the steadiness development Pact call for that european member states agree to their recognized deficit and debt standards of three and 60 consistent with cent of GDP. but, how can the EU's leaders ensure that those ambitions are met? Is a three according to cent deficit in Belgium similar to one in Italy or France? Making the EMU explores how the Treaty's budgetary surveillance approach screens member country budgetary guidelines, harmonizes their budgetary facts, and successfully determines which member states certified for member prestige and are topic to the Pact's sanctions. This publication offers the 1st exam of the way the european entrusted the credibility of those serious budgetary figures to a comparatively minor ecu fee company, and what impression the surveillance proceudre has at the making of the EMU and the enforcement of Maastricht.
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Extra resources for Making the EMU: The Politics of Budgetary Surveillance and the Enforcement of Maastricht
Example text
The [French] Finance Ministry saw the need to establish a new basis of credibility for EMU in the financial markets. Hence it introduced the concept of a 3 per cent budget-deficit criterion into the negotiations. . Mitterand was prepared to concede on this issue by two arguments coming from the Foreign Ministry: that the President had actually endorsed the 3 per cent figure in 1982; and that tough criteria would be a signal of French seriousness and determination to the Germans. Kenneth Dyson and Kevin Featherstone (1999).
Berkeley: University of California Press; Larry R. Jones and K. J. Euske (1991). “Strategic Misrepresentation in Budgeting,” Journal of Public Administration Research and Theory, 4, 437–60; Roy Meyers (1994). Strategic Budgeting. Ann Arbor: University of Michigan Press. 26 An example of classic public administration literature where budgets and auditing are employed by the center to control the periphery is Herbert Kaufman (1960). The Forest Ranger: A Study in Administrative Behavior. Baltimore: Johns Hopkins University Press.
Political Science: The State of the Discipline. New York: W. W. Norton & Company, pp. 693–721. 22 MAKING THE EMU calculation of budgetary deficits and debt. Do these rules further contribute to the sense of “rootedness” that helps lock-in the behavior of member states, at least in the technical areas of Eurostat’s responsibilities? 32 Europeanization refers to the influence and effect of EU formal rules, procedures, regulations, and practices on the member states’ political institutions and public policies, which are reinforced by informal policy networks, organizational cultures, and personal relationships.