Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/104831
Authors: 
Krumm, Raimund
Herz, Bernhard
Year of Publication: 
1996
Series/Report no.: 
Tübinger Diskussionsbeiträge 82
Abstract: 
The European Council selects the EMU participants by a vote with a qualified majority. These voting requirements influence the benefit-cost-considerations of the EU states and may make it necessary to loosen the convergence criteria and/or to grant side payments, in order to achieve the necessary number of votes. However, not even making use of these options can guarantee the realization of a monetary union in every case. For this reason, supporting economic and institutional measures, such as convergence programs and the so-called stability pact, which diminish the binding character of the voting requirements, are of great importance.
Subjects: 
European Monetary Union
voting requirements
convergence
stability concessions
side payments
JEL: 
D71
F33
F36
F42
H87
Document Type: 
Working Paper

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