Ponchie, T: European Law and Economic Policy Coordination in

This book identifies the legal framework of economic policy coordination in place within the Economic and Monetary Union of the European Union, and analyses it through the monetary, fiscal and supply-side policies. Chapter 1 focuses on the EMU monetary policy and its legal system. The centralized EMU monetary policy is analysed and it is argued that further coordination is needed with the other economic policies. Chapter 2 deals with the EU fiscal policy and is divided into two main sections: the Broad Economic Policy Guidelines and the Stability and Growth Pact. The BEPGs section insists on the intergovernmental and soft law aspect of the BEPGs and their limits for the conduct of EU fiscal policies. The SGP section emphasises the multilateral surveillance system of the SGP and more particularly the Excessive Deficit procedure and its hard law aspect for coordinating the national budgetary policies. Chapter 3 focuses on the EU supply-side policies and the Lisbon strategy for employment and reforms, and particularly emphasises the Open Method of Coordination chosen at the Lisbon Council in March 2000.