Making the EMU: The Politics of Budgetary Surveillance and the Enforcement of Maastricht

Paperback | June 12, 2007

byJames D. Savage

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The Maastricht Treaty and the Stability Growth Pact demand that EU member states comply with their famous deficit and debt requirements of three and sixty per cent of GDP. Yet, how can the EU's leaders be certain that these targets are met? Is a three per cent deficit in Belgium equivalent toone in Italy or France? Making the EMU explores how the Treaty's budgetary surveillance procedure monitors member state budgetary policies, harmonizes their budgetary data, and effectively determines which member states qualified for member status and are subject to the Pact's sanctions. This book provides the firstexamination of how the EU entrusted the credibility of these critical budgetary figures to a relatively minor European Commission agency, and what effect the surveillance procedure has on the making of the EMU and the enforcement of Maastricht.

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The Maastricht Treaty and the Stability Growth Pact demand that EU member states comply with their famous deficit and debt requirements of three and sixty per cent of GDP. Yet, how can the EU's leaders be certain that these targets are met? Is a three per cent deficit in Belgium equivalent toone in Italy or France? Making the EMU expl...

James D. Savage is author of Making the EMU: The Politics of Budgetary Surveillance and The Enforcement of Maastricht (Oxford Univ. Press); Funding Science in America: Congress, Universities, and the Politics of the Academic Pork Barrel (Cambridge Univ. Press); and Balanced Budgets and American Politics (Cornell Univ. Press). Articles...

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Format:PaperbackDimensions:256 pages, 9.21 × 6.14 × 0.67 inPublished:June 12, 2007Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199238693

ISBN - 13:9780199238699

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Table of Contents

1. Enforcing Maastricht: The Significance of Treaty Surveillance2. Treaty Delegation and the Institutional Structure of Surveillance3. Designing a Compliance Information System: ESA and the Techniques of Surveillance4. European Statistical Case Law for Stage II of Convergence 1994-975. European Statistical Case Law for Stage III Monetary Union 1998-20046. Credibility, Institutionalization, and EuropeanizationAppendix: Other Eurostat Sage II Decisions 1995-97

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`Savage presents his empirical evidence in a convincing and readable style...an extremely enlightening book.'Political Studies Review