Hacker, , (2017), “Stubborn Germans: Stuck In Austerity/Stability”, Social Europe, 27 Φεβρουαρίου
Led by the current and previous federal government under Chancellor Angela Merkel and her CDU, the advocates of a stability union for the most part favour preservation of the status quo of the EMU architecture. The fundamental reasons for the Eurozone crisis are from this angle to be blamed on the failure of the crisis states to stick to existing rules and economic policies, thereby harming their competitiveness. Accordingly, the paramount objective in combating the crisis and further developing the Eurozone has been to correct these purportedly “wrong” policies in these countries and close possible loopholes in the rules. A whole host of measures have been implemented along these lines, from the launch of national debt brakes in the guise of the fiscal compact to stipulating quasi-automatic sanctions with the reversed majority voting in the reformed Stability and Growth Pact. Additionally, structural reforms promoting competition and fiscal consolidation in the Euro Plus Pact and in the European Semester as well as the enforcement of these if necessary within the framework of credit assistance programmes have been brought on the way.
Σχετικές Αναρτήσεις
- Fazi, Thomas, (2016), “How Austerity Has Crippled The European Economy – In Numbers”, Social Europe, 31 Μαρτίου
- Garton Ash, T. (2015) “Europe is being torn apart – but the torture will be slow”, The Guardian, 08 Μαρτίου 2015