Summary In Germany and in the EU legal provisions exist in order to restrict public deficits and public debt. It seems that in the past these legal debt limits have been hardly respected by policymakers in their decisions on public households. In addition, during the worldwide financial and...

In Germany and in the EU legal provisions exist in order to restrict public deficits and public debt. It seems that in the past these legal debt limits have been hardly respected by policymakers in their decisions on public households. In addition, during the worldwide financial and economic...