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allows overcoming this problem by making use of the fact that recommendations under the EU's excessive deficit procedure (EDP … macroeconomic impact of fiscal consolidation over the EDP horizon. For a sample of 24 EU countries to which 48 EDP recommendations …
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that risk premiums incurred by central governments of EU member states respond positively to central government debts and … at work in European government bond markets supports the notion that the no-bailout clause in the EU Treaty is credible …
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Regarding a prospective reform of the European Stability and Growth Pact (SGP) it seems rather consensual that a simplified framework should take account of the prevailing macroeconomic context and enhance the balancing of sustainability and stabilisation considerations. This paper provides...
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