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With the spectre of a recession looming in the eurozone (and elsewhere), the policy question arises as to how much … leeway do the fiscal authorities in the eurozone have to follow counter-cyclical fiscal policies aimed at providing some …
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This article narrates Ireland’s recent odyssey from the pride and envy of Europe to kneeling supplicant through the … triggered and propelled Ireland’s drift towards sovereign default: first, the global financial crisis that drove Ireland into a … reflected by high interest rates and communicated by the massive downgrades of Ireland’s sovereign debt rating. …
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The COVID-19 pandemic and the pressure it has created on member states’ public finances have led European authorities to suspend the EU’s fiscal rules. In fact, these rules had long been criticised by academics and had only been abided by exceptionally. Beyond the rules themselves, the...
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The EC's budgetary problems are coming to a head. For 1983 virtually all the Community's resources have been utilized, and there are growing fears that the Community will soon have to declare itself bankrupt unless changes are made to current policy. What should be done to secure the financing...
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The European Commission methodology for computing the cyclically adjusted government budget balance provides a robust measurement of the fiscal position of the Member States. The fiscal semi-elasticities at the core of this method are structural parameters, mostly of fiscal nature, not linked to...
Persistent link: https://www.econbiz.de/10012037523