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Köln-process

Köln, Germany (Photo: http://www.ib-hochschule.de/koeln.htm)

Voluntary co-ordination of EU macro economic policies, named after an EU summit in the German town of Köln.

Notes

• France in particular has often promoted compulsory economic co-ordination in the EU through a common economic “government”.
• Germany has advocated a compromise formula of voluntary co-ordination between employers, employees, ECOFIN ministers and the European Central Bank.

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