-financed government expenditures always exceed the induced increase in tax revenues. Apparently, the remaining deficits accumulate over …, tax rates above a certain minimum yield fiscal revenues greater than the initial deficit. Besides, the debt-to-GDP ratio …

Although policy-makers often promise to reduce budget deficits, most countries have high and increasing debt ratios. In … comparison holds, there is a range of policy measures which could be taken by governments willing to reduce their debt burden. …

The reference values for public deficits and debt came into the Maastricht Treaty more or less by coincidence. Later … attempts to justify them in terms of economic theory failed. The values narrow fiscal space for member states with high debt … and tend to create debt levels that are too low in the others, thereby polarising the 19 member states in two groups …

extremely favourable conditions of the 2010s. Since 2012, surpluses prevailed, and in 2019 the public debt ratio decreased below … in the debt ratio to about 77.5% in 2020. This requires consolidating the budget, mainly because age related spending … ensure long term debt sustainability, restricting primary expenditures is imperative. …

The paper deals with the current budget crisis in Germany, which was triggered by an attempt to increase public debt …

to keep its reform commitments. Because Greece’s debt is now held primarily by the eurozone public sector, any …Greece was granted a third bailout package by its European partners, although it is unclear whether Greece will be able …

probably a delayed and insuffi cient debt restructuring in Greece a lesson which should be taken on board for future adjustment … of states that adopted austerity policies, as measured by deficit and debt ratios. However, most of the authors consider … that austerity in Greece has failed due to the lack of political will and the lack of a functioning administration, which …