Gros, D. & Alcidi, C. (2014) “The case of the disappearing Fiscal Compact“, Economic Policy – Centre for European Policy Studies (EPC) Commentary, 05 Νοεμβρίου.
Following the Commission’s autumn forecast showing that only five euro-area countries exhibit a fiscal balance better than the 0.5% of GDP deficit allowed by the Fiscal Compact, Daniel Gros and Cinzia Alcidi attempt to explain in this new Commentary why there is precious little policy debate over these flagrant treaty violations. They find that it is not possible to put fiscal policy in a legal straightjacket and that the tight rules enshrined in the new Treaty and in national constitutions are discarded as soon as they become politically inconvenient.
Σχετικές αναρτήσεις:
- Wolff, B. G. (2014) “Europe needs new investment, not new rules – the EU must avoid another useless fight over its fiscal rules and instead use political capital to foster growth“, Bruegel Institute, 25 Ιουνίου.
- Mortensen, J., (2013) “Economic Policy Coordination in the Economic and Monetary Union: From Maastricht via the SGP to the Fiscal Pact“, CEPS, 14 Αυγούστου.
- Frankel, J. (2013) “Will Europe’s Fiscal Compact Work?“, Project Syndicate, 18 Ιανουαρίου.