Summary

When the common European currency was created, the Stability- and Growth Pact (SGP) was one of the cornerstones of Europe's new monetary architecture. But the discussion about the functioning and the future role of the SGP remained high on the agenda since then because many of the Euro-Zone-Members broke the regulations of the pact at least once.In this book, renowned economists, lawyers and practitioners from all over Europe present their views on topics such as the ECJ court procedure relative to the deficit procedure against France and Germany, the relation between fiscal and monetary policy, the reforms of the SGP that are under way right now and may be possible in the future, its theoretical foundations, and, last but not least, the impact of the SGP on the economic development of the Euro-Zone. These and other highly relevant issues make this volume indispensable for everybody who is concerned with European integration and its monetary aspects.