Abstract
The Maastricht Agreement included a set of financial and monetary standards that the expan-sion countries committed to implement to ensure economic convergence with the most ad-vanced countries in the European Union. The most important of these criteria is to maintain a moderate debt and deficit ratio to the GDP and to keep interest rates and inflation within a certain ceiling. The implementation of these standards even before joining the Federation in 2003 and it continues to date with the existence of relative differences between countries in the extent of their commitment to the proportions determined and according to the economic situation of both of them in particular and the global economy in general, and the current study was to measure the impact of the development The criteria for monetary and financial convergence referred to above are based on the economic convergence expressed in economic growth (per capita income growth) in seven of the expansion countries. A 13-year study period was adopted with the use of the cross-sectional approach to data processing. The research concluded that the application of convergence criteria In the seven expansion coun-tries contributed to the positive impact on economic growth.
Highlights
The Maastricht Agreement is the framework for the practical organization of the involvement of countries in the European Economic and Monetary Union (EMEA)
But the crises that the Union has faced in recent years, especially with regard to the debt crisis, led to the introduction of new visions focused on the importance of gains made by the expansion countries compared to the dominant countries in the Union (Germany and France), which applied difficult conditions and made And the current research is an attempt to extrapolate the fact that the criteria of monetary and monetary convergence applied by the expansion countries have an impact on the economic rapprochement with the developed countries in the Union
The question raised here is whether the countries of expansion by applying monetary and financial convergence standards have achieved real economic convergence with the more advanced countries of the European Monetary Union? This is what the research will try to answer by measuring the impact of these standards on economic growth in the expansion countries
Summary
The Maastricht Agreement is the framework for the practical organization of the involvement of countries in the European Economic and Monetary Union (EMEA), . In the context of the organization of the economic situation within the European Union, the Treaty of Maastricht was agreed in 1992, in light of which it became incumbent on the newly entering countries to adhere to the implementation of a package of economic reforms in the real aspects, financial and monetary The vision in this area was based on the fact that economic convergence represents The main objective of these measures, which requires the achievement of a set of monetary and financial convergences, which represent the intermediate objectives of this approach, which was designed to the maximum limits of macroeconomic variables cannot be exceeded and obligates countries to apply and return to them within the framework of periods Time.
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
