The adoption of specific numerical targets for member countr

The adoption of specific numerical targets for member country fiscal deficits proved to be a very controversial component of the Maastricht framework for Eurozone. Briefly discuss the advantages and limitations of imposing such constraints on fiscal policy in a monetary union. Illustrate with a country of your choice.

Explain how the flexibility of domestic wages and prices in the individual member countries of a monetary union may influence the ability of the union to sustain itself over time.

Solution

motivation. Among these 5 stages, an employee might be lying in any of the stages. They are,

Physiological needs which address the basic need of an employee like food, clothing & shelter. Eg: An employee, who is having challenges in meeting some of these 3 needs, may not really focus on other things that are essential for his deliverables.

Safety Needs is the second stage that talks about basic Security and Safety features where they are protected well in the work environment. Eg: Woman safety at the workplace is a significant measure that organization needs to look at to protect them so their contribution to their work doesn’t get interrupted.

Social Needs is the third stage where an employee wants to be part of various different groups within the organization. An employee will be thinking about this only when the first two needs are fulfilled. Eg: An employee willing to be part of Fun Committee and sports team etc., in an organization that contributes to employee engagement initiatives.

Esteem Needs typically occurs to someone who had spent a considerable amount of time in their career and reached a situation of self-motivation where external factors don\'t really motivate this person instead he/she feels active within self due to various accomplishments they had over years. Eg: A seasoned manager who had spent around 30 years working and achieved various different things where no external reinforcement is required.

Self Actualization Need is at the peak of the motivational pyramid where after achieving everything that is required in life, the person reaches this stage that he has seen everything that he is supposed to be seeing in his/her life and starts p