Carstensen, Kai; Gern, Klaus-Jürgen; Kamps, Christophe; … - Institut für Weltwirtschaft (IfW) - 2003
major cause for concern. Already last year, the deficit exceeded the 3 percent limit of the Stability and Growth Pact (SGP … of fiscal policy will be roughly neutral with differences among the member states. The budget situation in Germany is a … in the context of the Stability Programs, fiscal policy is losing credibility. Should the Stability Pact fail, it would …