Mathieu, Catherine; Sterdyniak, Henri - In: Revue de l'OFCE 84 (2003) 1, pp. 145-179
Reforming the SGP has become a highly debated issue in Europe. This paper starts with recalling the fiscal policy framework in the euro area : the 3 % of GDP limit for public deficits, stability programmes, the broad economic policy guidelines. The weaknesses of the existing procedures are...