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Les pays du Sud de l'Europe et le système monétaire européen

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  • Patrick Artus

Abstract

[fre] On analyse l'apport (crédibilité des autorités monétaires, capacité accrue à financer les programmes d'investissement, stabilité dynamique plus facile à obtenir pour la dette extérieure) et les dangers (réduction de la taxe inflationniste, instabilité financière, appréciation perverse du taux de change) de l'adhésion au système européen pour les pays du sud de l'Europe, pays caractérisés le plus souvent par des tensions inflationnistes, des besoins de croissance élevés, des dettes publiques ou extérieures importantes. [eng] This paper analyses the benefits (credibility of monetary authorities, larger ability to finance investment programs, dynamic stability of external debt easier to achieve) and the dangers (reduction of inflationist tax, financial instability, misleading evaluation of the exchange rate) being a member of the European monetary system for the South Eu- ropean countries which very often present inflationist tensions, high needs of growth and large public or external debts.

Suggested Citation

  • Patrick Artus, 1990. "Les pays du Sud de l'Europe et le système monétaire européen," Revue Française d'Économie, Programme National Persée, vol. 5(3), pages 3-35.
    • Handle: RePEc:prs:rfreco:rfeco_0769-0479_1990_num_5_3_1255
    DOI: 10.3406/rfeco.1990.1255
    Note: DOI:10.3406/rfeco.1990.1255
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