Complete Fiscal Freedom in the Transition Period?

Mike Tsionas

Chapter Chapter 9 in The Euro and International Financial Stability, 2014, pp 45-49 from Springer

Abstract: Abstract The question whether to allow complete fiscal freedom for national governments in the immediate period following the dissolution of the euro is not so much related to stability of the international financial system: Most Europeans governments will not do so. Electoral and other motives might, of course, make some of them resort of inflationary finance. The economic history of Greece in the 1980s shows us that inflationary finance has a limit and, after that, governments rely on borrowing. In the transition period or after, that will not be possible since it is already anticipated by the international markets.

Keywords: Monetary Policy; Relative Prex; Investment Plan; Recent Financial Crisis; Monetary Expansion (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:fimchp:978-3-319-01171-4_9

Ordering information: This item can be ordered from
http://www.springer.com/9783319011714

DOI: 10.1007/978-3-319-01171-4_9

Access Statistics for this chapter

More chapters in Financial and Monetary Policy Studies from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().