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...

In order to fight Inflation President Nixon has resorted to means of Interference which the US economy Is not accustomed to. The following article deals with the Intricacies arising from Phase II of his price- and wage-policy.

Although at first publlc reaction to President Nixon’s Economic New Deal was very positive, criticism has been increasing during the last weeks. The most controversial issue at the moment in the USA Is without doubt the wage and price freeze imposed for 90 days.