Fiscal implications of the crisis and the future of the EU fiscal framework

Servaas Deroose, Christine Frayne and Lucio R. Pench

International Journal of Sustainable Economy, 2011, vol. 3, issue 2, 141-161

Abstract: This paper presents the fiscal implications of the crisis within a European context and suggests improvements to the EU fiscal framework in the light of the lessons learnt from financial crises and the consequences that these might have on fiscal sustainability, particularly given the ageing of the European population over the coming years. Indeed the consequences of demographic change are shown to be substantial. This paper suggests that the European fiscal framework take a broader view of fiscal risks in the future, that its implementation focus more strongly on the quality of the adjustments that will be necessary in the coming year, and that enforcement of the Stability and Growth Pact be strengthened, in order to ensure that European public finances are best able to weather the challenges of the future.

Keywords: EU fiscal framework; European Union; European public finances; fiscal policy; long-term sustainability; SGP; Stability and Growth Pact; fiscal sustainability; sustainable development; demographic change; financial crisis. (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.inderscience.com/link.php?id=39438 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijsuse:v:3:y:2011:i:2:p:141-161

Access Statistics for this article

More articles in International Journal of Sustainable Economy from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().