Towards a European Central Bank: Fiscal Compatibility and Monetary Constitution

  • Tommaso Padoa-Schioppa
Conference paper


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.


Exchange Rate Interest Rate Monetary Policy Central Bank Fiscal Policy 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Springer-Verlag Berlin · Heidelberg 1991

Authors and Affiliations

  • Tommaso Padoa-Schioppa

There are no affiliations available

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