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The current system for the financing of the EU needs to be reformed. This paper puts forth a reform proposal with two … important elements: first, the addition of an EU VAT share on receipts; and second, a shift in power from the European Council … to the European Parliament with regard to the determination of the structure of EU expenditures. The first element will …
Persistent link: https://www.econbiz.de/10011346642
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...
Persistent link: https://www.econbiz.de/10009663836
There are at least two reasons why sustainability of public debt is an issue of increasing importance. First, public choice considerations show the danger of excessive use of deficit finance in a democracy. Second, the conditions of a European Monetary Union imply further incentives for deficit...
Persistent link: https://www.econbiz.de/10011547191
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In the debate about the world monetary order there is agreement that greater stability in international currency relationships would be desirable. Could a system of fixed exchange rates between the currencies of the major industrial countries put an end to the present instability? What would be...
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The growing use of the European Currency Unit (ECU) in private transactions is often expected to produce a decisive impetus towards monetary integration within Europe. On the other hand, critics warn of the monetary risks of increased private use of the ECU. What are the opportunities and risks...
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