Austerity measures alone will not suffice to generate the growth needed for recovery in Greece, Portugal, Spain and Italy. A European Recovery Programme is necessary to stimulate growth through structural reforms and fiscal stimulus. This contribution describes policy areas where non-fiscal...

Austerity measures alone will not suffice to generate the growth needed for recovery in Greece, Portugal, Spain and Italy. A European Recovery Programme is necessary to stimulate growth through structural reforms and fiscal stimulus. This contribution describes policy areas where non-fiscal...

Implementation of fiscal surveillance rules relies heavily on the proper interpretation of legal terms, creating a need to infuse economic insight into legal analysis. Rigid legal application of fiscal deficit rules may curtail structural reforms, as reforms can go against fiscal consolidation...