Schuknecht, Ludger; Moutot, Philippe; Rother, Philipp; … - European Central Bank - 2011
, while the Stability and Growth Pact was watered down. Spillovers from the financial and economic crisis compounded fiscal … rules in Economic and Monetary Union (EMU). It makes proposals to strengthen fiscal policy governance that go well beyond …The sovereign debt crisis in the euro area is a symptom of policy failures and deficiencies in – among other things …