Fiscal Adjustment between Fiscal Harmonization and the Maastricht Convergence Criteria

  • Paolo Roberti
  • Mauro Visaggio
Part of the Central Issues in Contemporary Economic Theory and Policy book series (CICETP)


At Maastricht, on February 7, 1992, the ministers of ail EC member states signed the Treaty on European Union (hereafter Treaty). The event was heralded as a great success for European diplomacy. Indeed, the Treaty seemed to satisfy most of the requests of the member states and to mark a very meaningful step along the road of European integration. After a few months however, when the clamour of officialdom had gradually quietened down and the overall vision underlying the Treaty emerged, the initial enthusiasm seemed to wane, or, as in Denmark, to vanish completely.


Fiscal Policy Inflation Rate Convergence Criterion Taxable Base Public Debt 
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Copyright information

© SIPI Servizio Italiano Pubblicazioni Internazionali Srl 1994

Authors and Affiliations

  • Paolo Roberti
    • 1
  • Mauro Visaggio
    • 2
  1. 1.Consiglio degli Esperti and Università «Tor Vergata»Roma
  2. 2.Università «La Sapienza»Roma

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