Abstract
An adjunct to the Treaty of the European Union that established the euro as common currency, allegedly its alter ego, has been the Stability and Growth Pact (SGP). Its rules, indeed its very existence, were engineered by Francois Mitterrand, the French president, and Guilio Andreotti, the Italian prime minister, to trap Helmut Kohl, the German chancellor, into abandoning the deutschmark in favor of the euro. What become known as the Maastricht Treaty1 was signed in February 1992.
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