Andersson, Fredrik N. G.; Jonung, Lars - 2022
The EU's fiscal rules, set out in the Maastricht Treaty of 1993 and the Stability and Growth Pact of 1997, are anchored … extension, this argument suggests a shift from GDP anchoring to bond yield anchoring of the EU fiscal framework. We discuss the …-run relief to highly indebted EU member states, it implies high long-run risks to fiscal sustainability should bond yields rise …