Publication

2003

Two important points in the EU debate on institutional reform are the definition of the role to be assigned the budget and the rules relating to fiscal policy. Since Economic and Monetary Union and the introduction of the euro, they have become of extreme importance. On the one hand, the Treaty of European Union (Art. 105) establishes that “The primary objective of the ESCB [European System of Central Banks] shall be to maintain price stability. Without prejudice to the objective of price stability, the ESCB shall support the general economic policies in the Community with a view to contributing to the achievement of the objectives of the Community as laid down in Article 2.”

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Author Alberto Majocchi
Series IAI International Spectator
Issue 2
Publisher Istituto Affari Internazionali (IAI)
Copyright © 2003 Istituto Affari Internazionali
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