The deficit of the EU Member States in the euro area

Adrian Amarita
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Adrian Amarita: Ministerul Dezvoltarii Regionale si Administratiei Publice

Romanian Statistical Review Supplement, 2016, vol. 64, issue 2, 44-53

Abstract: The Treaty on Stability, Coordination and Governance was signed on 02.03.2012 in Brussels by the 25 heads of the European Union Member States, exceptions being the UK and the Czech Republic. The main objective of the Treaty is fiscal consolidation. Under its provisions, the limit of the structural budget deficit is 0,5%. If the debt level is below 60% and there are no risks regarding the long term sustainability of the public finances, the structural deficit could reach 1% of GDP. The deficit is allowed a maximum of 3% of GDP. From the analysis for the period 2010 – 2013 on the impact of the Treaty on Stability, Coordination and Governance in the European Union member states of the euro area, that deficit is within the limits allowed by the law in only three states: Luxembourg, Germany and Estonia.

Keywords: Euro; Treaty on Stability; Coordination and Governance; member states; European Union; structural deficit; Gross Domestic Product; penalty payment; derogation (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:rsr:supplm:v:64:y:2016:i:2:p:44-53

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