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What is the “excessive deficit procedure”? When can it be triggered?


Why do EU rules limit admissible government deficits and debt levels?


What is the subsidiarity principle? Is it relevant for all EU legislation?


“Exit of the United Kingdom from the EU is not that bad after all, because it will draw

economic activity and working places from the UK into the EU.” Discuss.


Why is it important that the rulings of the European Court cannot be repealed by EU

member states?


“Liberalisation of cross-border capital flows makes it easier to stabilise nominal

exchange rates.” Is this statement correct?


Suppose the € nominally depreciates against the $. How do the terms of trade evolve?

What are the implications?


Why does the European Central bank need to assess likely future economic

developments?


What are the ECB´s long-term refinancing operations?


How is the Governing Council of the ECB composed, what is its competence?


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