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Abstract

Why should economic policy be a matter for deliberation at the EU level; why not leave it to member states? This chapter gives some answers to this important question by pointing to market failures and interdependence as justifications for government intervention and international policy cooperation with a view to enhancing common interests (section 1). Also, the chapter considers the subsidiarity principle (section 2), reviews the economic objectives of the EU as set out in the treaty (section 3), and interprets the EU and EMU as setting key parameters of an economic policy regime (section 4).

Keywords

Member State Public Good Market Failure Monetary Union Military Spending 
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

© Sixten Korkman 2005

Authors and Affiliations

  • Sixten Korkman
    • 1
  1. 1.BrusselsBelgium

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