Abstract
This paper deals with the issue of how much fiscal discipline and coordination among member states’ budgets are necessary for the viability of a monetary union. This is one of the key open issues in the European agenda both at the political and at the technical level.
I would like to thank Giampaolo Galli for valuable help in the preparation and drafting of this paper; sections 5 and 6 owe largely to his contribution.
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© 1991 Springer-Verlag Berlin · Heidelberg
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Padoa-Schioppa, T. (1991). Towards a European Central Bank: Fiscal Compatibility and Monetary Constitution. In: Eckstein, Z. (eds) Aspects of Central Bank Policy Making. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-76774-6_2
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DOI: https://doi.org/10.1007/978-3-642-76774-6_2
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