List of figures; List of tables; Preface; 1. Introduction George
Alogoskoufis, Lucas Papademos and Richard Portes; 2. Global financial
integration and current account inbalances Michael Artis and Tamim Bayoumi;
3. The solvency constraint and fiscal policy in an open economy David
Currie and Paul Levine; 4. Relaxing the external constraint: Europe in the
1930s Barry Eichengreen; 5. External constraints on European unemployment
George Alogoskoufis and Christopher Martin; 6. France and Germany in the
EMS: the exchange rate constraint Daniel Cohen and Charles Wyplosz; 7. The
external constraint in the UK Charles R. Bean; 8. Savings, investment,
government finance, and the current account: the Dutch experience Hugo A.
Keuzenkamp and Frederick van der Ploeg; 9. Fiscal deficits, seigniorage,
and external debt: the case of Greece George Alogoskoufis and Nicos
Christodoulakis; 10. Macroeconomic policy, external targets, and
constraints: the case of Spain Juan J. Dolado and José Viñals; 11.
Macroeconomic policy and the external constraint: the Danish experience
Søren Bo Nielsen and Jørgen Søndergaard; Index.
