National Budgeting for Economic and Monetary Union

Although the need for fiscal co-ordination and for controlling national spending in particular have been widely justified, relatively little attention has been paid to identifying and analyzing concrete measures to make this feasible. Most studies on these aspects of Economic and Monetary Union have been concerned with questions as to why the need exists for fiscal convergence and to what degree it is desirable.;Attention has only recently been focused on examining what budgetary measures (rules, procedures, structures) can be taken by the Commission or finance ministries for European convergence. The objective of this book is to discuss and suggest alternative policy-option initiatives at EC and national levels encouraging convergent financial management behaviour. Analyses are focused on the following questions: what is the current capacity of EC and national governments to manage public spending?, what budgetary strategies are available to reduce deficits?, what should the role of the Commission be under these circumstances, what is the member states' responsibility for managing national budgets?, what budgetary norms and rules should be proposed and negotiated to guarantee convergence of integration? and what strategic and structural arrangements could facilitate integration?