EMU FISCAL STANCE MUST NOT OVERBURDEN MON. POL.
USE OF STABILISERS FOR DEFICIT ECONS NOT FEASIBLE
SOME MEMBERS' DEFICIT CUT PLANS 'UNAMBITIOUS'
NEED MORE EMU BUDGET COORD; ALL MUST RESPECT RULES
EU GOVTS SHOULD PRE-INFORM PEERS ON BUDGET MOVES
SOME OVERHEATING DUE IMPROPER 2000 FISCAL POLICIES
NETHS/FIN/DNK/SWE 1% GDP SURPLUS PREFERABLE MED-TM
EMU LABOR TAXES STILL TOO HIGH BY INTL. STANDARDS
AGEING PROBLEM MEANS MORE L-T SPENDING, 5-8% GDP
GREECE/PORT/SPAIN WORST LONG-TERM FINANCING WOES