Current developments in Greece make clear that the rules of the European Stability and Growth Pact (SGP) were neither strict enough nor enforced strictly enough. To deal with the ongoing exit from the fiscal crisis and its related phenomena, we propose a new framework for fiscal policy...

Ten years ago, in August 1963, the Federal Republic of Germany set up a Council of Experts on Economic Development. The author - a former member of the Council - makes a resumé of the ten years' experience and the problems connected with the Council.