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Summary
13
–
unambiguoussolvingtheproblemofinstitutionaldu-
alismofeconomicpolicywhichreliesoncentralisa-
tionofmonetarypolicyattheleveloftheeurozone
andsimultaneousdecentralisationoffiscalpolicy.Tat
iswhy,itfavoursadeepfiscaldestabilisationofcertain
smallerandpoorerdevelopedstates,peripheralonesin
particular;
–
limitingorexcludinginadequacyofinflationalobjec-
tiveandlevelofinterestratesasdeterminedbytheEu-
ropeanCentralBank,toeconomic-financialsituationof
variousgroupsofcountries,especiallythosewithlower
levelofeconomicdevelopmentandheavilyindebted
togetherwiththeirdevelopmentalneeds-financialsta-
bilisationandcompetitiveimprovement.
KeyWorDS
Europeanunion,MaastrichtTreaty,LisbonTreaty,Euro-
peanCommission,CounciloftheEuropeanunion,Econom-
icandMonetaryunion,optimumcurrencyarea,convergence
criteria,derrogation,eurocurrency,eurozone(euroarea),
fiscalpolicy,multilateralsupervision,monetarypolicy,Euro-
peanCentralBank,interestrates,Eurosystem,Stabilityand
GrowthPact,financialmarkets,ExchangeRateMechanism
(ERM),pricestability,eurozonecrisis,excessivedeficitpro-
cedure,excessiveimbalanceprocedure,economicgovern-
ance,Europeaneconomicsemester,spendingrule,banking
union.
