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European Union at the end of 1997: who is within the public finance “sustainability†zone?

Author

Listed:
  • L.L. PASINETTI

    (Universita' Cattolica del Sacro Cuore)

Abstract

The Maastricht Treaty of 1992 contains regulations on the eligibility of European Union (EU) member countries to join the single currency. 'Sustainability' of a country's public finance position is one of the four criteria for membership of the single currency. One major finding is the extremely important role to be played by the policies aimed at regulating the level of the medium- and long-term rates of interest within a framework of financial and fiscal stability. Belgium and Italy, which have higher debt/GDP ratios, may achieve convergence sooner through privatisation of public debt enterprises.

Suggested Citation

  • L.L. Pasinetti, 1998. "European Union at the end of 1997: who is within the public finance “sustainability†zone?," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 51(204), pages 17-36.
    • Handle: RePEc:psl:bnlaqr:1998:12
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    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/10588/10472
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    References listed on IDEAS

    as
    1. R. Berndsen, 1997. "The EMU debt criterion: an interpretation," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 50(203), pages 505-533.
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    Cited by:

    1. António Afonso & José Carlos Coelho, 2024. "Budgetary Constrained Governments: Drivers of Time Varying Fiscal Sustainability in OECD Countries," CESifo Working Paper Series 11137, CESifo.
    2. Carlo D'Ippoliti, 2020. "Editorial: books and debates in economics," PSL Quarterly Review, Economia civile, vol. 73(295), pages 279-282.
    3. Sara Casagrande & Bruno Dallago, 2022. "Socio-Economic and Political Challenges of EU Member Countries: Grasping the Policy Direction of the European Semester," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 64(3), pages 487-519, September.

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    1. L.L. Pasinetti, 1998. "European Union at the end of 1997: who is within the public finance “sustainability†zone?," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 51(204), pages 17-36.

    More about this item

    Keywords

    Public Finance Activities; National Government Finance; Economic aspects; Finance; Public finance; European Union; Sustainable development;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • F15 - International Economics - - Trade - - - Economic Integration
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy

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