Le projet de Constitution européenne et la coordination des politiques économiques

Jerome Creel

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Abstract: The Draft Constitution was rejected in December 2003 for political reasons and without any discussion on its economic policies' contents. No reform proposal on the design of fiscal policies in the EU was even mentioned, nor reform proposal of the statutes of the ESCB. Hence, the Stability and Growth Pact remains the cornerstone of European fiscal policies. Unfortunately, not enforced, it lacks credibility. In the paper, the institutional framework of European fiscal policies is thoroughly discussed. The Draft status quo is given a critical assessment. The article then turns towards the advantages of a better coordination of economic policies, be they only fiscal or monetary and fiscal policies. Last, the "golden rule of public finances" is showed to incorporate properties which might make up for the absence of "ex ante coordination" within the EU.

Keywords: Politique économique; Projet de Constitution; Pacte de stabilité (search for similar items in EconPapers)
Date: 2004-01
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Published in Revue de l'OFCE, 2004, 88, pp.119 - 150. ⟨10.3917/reof.088.0119⟩

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Journal Article: Le projet de Constitution européenne et la coordination des politiques économiques (2004)
Working Paper: Le projet de Constitution européenne et la coordination des politiques économiques (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03458725

DOI: 10.3917/reof.088.0119

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