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TXT43TheprospectofjoiningtheEuropeanMonetaryUnionproddedthethenmemberstatesinthemid-andlate1990sintoconsiderablefiscaldiscipline.Intheearlyyearsfollowingthelaunchofthesinglecurrencythefiscalpolicysituationalsoimproved,althoughthiswasmainlyduetotheeconomicsituation.Instructuralterms,however,publicbudgetarypositionshaveworsenedinrecentyears;butthepositionsintheindividualcountriesdiffersubstantially.Givendemographicdevelopmentsandtheforeseeablestrainsonthepublicpurseinparticular,hugeeffortsarestillneededtoplacefiscalpolicyonapermanentandsustainablebasis
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