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Unformatted text preview: integration? Question 4 In what way can neomercantilism be considered a persistent feature of European integration? (hint: explain the link between net export orientated growth and neomercantilims). How did it manifest itself in (a) the period of fixed exchange rates (b) flexible exchange rates? Question 5 Why was the EMS formed in 1979? What was the difference relatively to the 'snake'? Why did it collapse? Question 6 Explain the working ofEMU. What is the implication ofthe EMU for fiscal policy both at the European and the level of the individual countries. Is the EMU and the fiscal policy implications doing away with European neomercantilism? END OF EXAM Page 2...
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- Three '12