A Modern Guide to State Intervention
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A Modern Guide to State Intervention

Economic Policies for Growth and Sustainability

Edited by Nikolaos Karagiannis and John E. King

A Modern Guide to State Intervention investigates the impact of the changing role of the state, offering an alternative political economy for the third decade of the twenty-first century. Building on important factors including history, the role of institutions, society and economic structures, this Modern Guide considers economic and administrative interventions towards changing the destabilized status quo of modern societies.
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Chapter 11: What future for the euro without fiscal integration?

Philip Arestis

Abstract

Arestis presents the convergence Maastricht criteria and discusses briefly the theoretical framework that underpins the euro model while placing emphasis on the issues of the EMU fiscal and monetary policies. The author highlights some of the policy faults that lie at the heart of the euro, and raises the question of ‘whether the euro can be saved’. A positive answer requires political integration in the absence of economic integration in the European Union.

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