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Current developments in Greece make clear that the rules of the European Stability and Growth Pact (SGP) were neither strict enough nor enforced strictly enough. To deal with the ongoing fiscal exit and its related phenomena of crisis, we propose a new framework for fiscal policy consolidation...
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an institutional precondition for this success and has been exported to the Euro area in the guise of the Fiscal Compact … the Euro area from a Post-Keynesian perspective and examine German fiscal policies in the period from 1999 until 2007 … contribute to internally rebalancing the Euro area. …
Persistent link: https://www.econbiz.de/10009756271
The Euro area is currently going through its worst period of recession and economic stagnation since the Great … have been absolutely obvious even from a mainstream perspective. Therefore the sad state of economic policies in the Euro … Euro area seems to be most infected by such radical ideas. …
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This paper analyses the EU's response to the Eurozone sovereign debt crisis. It examines the background to the crisis … inside and outside the Eurozone. Consequently, the paper concludes that these fault lines will characterize the future of …
Persistent link: https://www.econbiz.de/10009788040
There is a growing empirical literature studying whether fiscal rules reduce borrowing costs. Nevertheless, it remains an open question whether these rules are effective genuinely or just because they mirror fiscal preferences of politicians and voters. In our analysis of European bond spreads,...
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