Cooper, Russell W. (contributor); Kempf, Hubert (contributor) - 2005
federation are prevalent.
Restrictions on borrowing by states in the U.S. and the Stability and Growth Pact of the European … liability on the credibility of the European currency, EU countries set up the Stability and Growth Pact.
The critical … regional governments and thus relax these debt restrictions.
In fact, the restrictions in the Stability and Growth Pact have …