With what should the present rules of the Stability Pact be replaced?

Patrick Artus ()

International Economics and Economic Policy, 2004, vol. 1, issue 1, 5-7

Abstract: An increasing number of statements – by economists, governments and even from the European Commission – argue that the euro zone’s present fiscal policy rules need to be changed. Naturally, deciding to change rules as soon as they become a constraint and a nuisance entails the risk of losing credibility. France and Germany may well see their fiscal deficits exceed 4% of GDP in 2003 and 2004. However, in this study, we would like to explore various approaches that could be used to replace the current rules by more sensible ones. Copyright Springer-Verlag Berlin Heidelberg 2004

Date: 2004
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DOI: 10.1007/s10368-003-0006-1

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