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Theoretical and Applied Economics
No. 1 / 2009 (530)

The EMU is Done. How about the Fiscal Union and the Next Future of the United Europe?

Liviu C. Andrei
National School of Political Studies and Public Administration, Bucharest

Abstract. The economic and monetary union was actually compulsory, despite that the Maastricht Treaty does not express as such. Moreover, specialists argue that the monetary union is equally required to be fiscal as well. And what is this? Of course, strenghtening central governance, once more against the national one in the member states. Will this go well in the aftermath of the “No” for the new European constitutional project by several nations and for the Lisboa Treaty by the Irish people? Not easy to say, but actually the fiscal union is as much supposed to have started, as the monetary union had some decades ago, much earlier than the current common currency.

Keywords: economic integration; taxation; fiscal union; monetary union; public spending; governance.

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