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24 Legal Issues of Eur. Integration [i] (1997)

handle is hein.kluwer/liei0024 and id is 1 raw text is: TABLE OF CONTENTS A CRITICAL INTERPRETATION OF THE EMU CONVERGENCE RULES By MOHAMED SIDEEK I. Introduction ......................................................................................... 1 A. Convergence Rules on EMU ............................................................ 1 B. Interpretation of Convergence Rules ...... ........ ......... 2 C. Retention of the Status Quo of EC Convergence Rules ............... 2 D. Political Decision or Professional Interpretation? ....................... 3 E. Rigid or Flexible Interpretation? ................................................. 4 F. Legal Status of EMU Protocols .................................................. 4 G. Rules on Inflation and Interest Rates ............................................ 6 H. Exchange Stability Rules .............................................................. 6 I. Fiscal R ules .................................................................................. 7 J. Postponement of the Deadline ..................................................... 8 K. Direct Effect of Third Stage of EMU .......................................... 8 L. Arguments in Favour of Postponement ....................................... 9 M. Arguments against Postponement .............................................. 10 N. Amendment of the Convergence Criteria ....................................... 11 0 . Voluntary O pt-out ....................................................................... 12 P. Non-compliance of Convergence Criteria .................................. 13 Q. Abandonment of the EMU Project ............................................ 14 II. C onclusion ......................................................................................... 15 EUROPE AGREEMENT COMPETITION POLICY FOR THE LONG TERM: AN ACCESSION ORIENTED APPROACH By PETER HOLMES AND JAMES MATHIS I. Introduction ....................................................................................... 17 A. Competition Policy and Trade Measures .................................. 18 1. The Elimination of Trade Measures in a Customs U nion ................................................................................... . . 18 2. The Requirement of a Level Playing Field .......................... 18 3. The Requirement of Competition Policy .............................. 19 B. The Application of EU Competition Policy in the Europe A greem ents ................................................................................ 20 1. The Declared EU Policy ....................................................... 20 Copyright © 2007 by Kluwer Law International. All rights reserved. No claim asserted to original government works.

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