Δευτέρα 28 Νοεμβρίου 2016

Compatibility of national legislation with the Treaties ECB

Αrt2003 Δευτέρα, 28 Νοεμβρίου 2016

Contents 1 Introduction 3 2 Framework for analysis 5 2.1 Economic convergence 5 Box 1 Price developments 6 Box 2 Fiscal developments 8 Box 3 Exchange rate developments 12 Box 4 Long-term interest rate developments 13 Box 5 Other relevant factors 14 2.2 Compatibility of national legislation with the Treaties 16 3 The state of economic convergence 42 3.1 The price stability criterion 46 3.2 The government budgetary position criterion 48 3.3 The exchange rate criterion 49 3.4 The long-term interest rate criterion 50 3.5 Other relevant factors 50 4 Country summaries 56 4.1 Bulgaria 56 4.2 Czech Republic 57 4.3 Croatia 58 4.4 Hungary 59 4.5 Poland 60 4.6 Romania 61 4.7 Sweden 63 5 Examination of economic convergence in individual countries 65 5.1 Bulgaria 65 5.2 Czech Republic 765.3 Croatia 87 5.4 Hungary 99 5.5 Poland 111 5.6 Romania 122 5.7 Sweden 134





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