Download or read book The End of the Stability and Growth Pact written by Jakob de Haan and published by . This book was released on 2003 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book End of the Stability Growth Pact written by and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Stability and Growth Pact written by Carsten Siegert and published by GRIN Verlag. This book was released on 2004-05-30 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intermediate Examination Paper from the year 2004 in the subject Economics - International Economic Relations, grade: A, University of Applied Sciences Essen (Institute for Economics and Management), language: English, abstract: In December 1991 at a summit in Maastricht the twelve nations, which constituted the European Community at that time, agreed on a treaty to transform the European Community into an European Union (EU). This Treaty was signed 1992 and came effective on November 1st of 1993 as an amendment to the treaty of Rome, the treaty the European Community was build on. Four years later the treaty of Amsterdam put the treaty of Maastricht into more concrete terms. The contracting parties agreed in Article B of this treaty that the Union will set itself (among others) the objective to promote economic and social progress through the establishment of an economicand monetary union (EMU), ultimately including a single currency. Under title V and VI of this treaty the countries also agreed to build up common, foreign- and security policies as well as to intensify their cooperation in fields of justice und home affairs. Title VII defines the ideas of a common economic and monetary policy. The treaty of Amsterdam was signed on October, 2nd 1997. Since all the Member States had to ratify the treaty by their respective legislative procedures, it did not come into effect until the end of May 1999. The European treaties, taken together, form the primary legislation and have characteristics of a constitution of the Community. The treaties provide the legal basis for all secondary legislation, i.e. regulations, directives and decisions of the institutions of the Community. 1 Peichl, Andreas (2003), p. 1-3. 2 Cowgill, Anthony and Andrew (2003b), p. 2.

Download or read book The Stability and Growth Pact written by Svetlana Blumenthal and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Stability and Growth Pact written by A. Brunila and published by Springer. This book was released on 2001-09-20 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Stability and Growth Pact (SGP) encompasses the legislative text and political resolutions regulating fiscal policy and public finances in EMU. The contributions in this volume analyse the institutional, legal, theoretical and empirical aspects of the SGP, examine its development and evaluate its main implications. The authors include academic economists, who provide insightful analysis, and policy makers who have contributed to the shaping of the pact and have a direct responsibility for its implementation. This book is the definitive source of reference on the SGP for academics, policy makes and economists.

Download or read book The Stability and Growth Pact written by Amy K. Filipek and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Second Generation Fiscal Rules written by Luc Eyraud and published by International Monetary Fund. This book was released on 2018-04-13 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal rule frameworks have evolved significantly in response to the global financial crisis. Many countries have reformed their fiscal rules or introduced new ones with a view to enhancing the credibility of fiscal policy and providing a medium-term anchor. Enforcement and monitoring mechanisms have also been upgraded. However, these innovations have made the systems of rules more complicated to operate, while compliance has not improved. The SDN takes stock of past experiences, reviews recent reforms, and presents new research on the effectiveness of rules. It also proposes guiding principles for future reforms to strike a better balance between simplicity, flexibility, and enforceability. Read the blog

Download or read book The Stability and Growth Pact written by Svetlana Blyumental and published by . This book was released on 2004 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Stability and Growth Pact written by Great Britain. Treasury and published by . This book was released on 2004 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Stability Pact Pains a Forward looking Assessment of the Reform Debate written by Marco Buti and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Thou Shalt Not Breach The Impact on Sovereign Spreads of Noncomplying with the EU Fiscal Rules written by Federico Diaz Kalan and published by International Monetary Fund. This book was released on 2018-04-13 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is evidence that fiscal rules, in particular well-designed rules, are associated with lower sovereign spreads. However, the impact of noncompliance with fiscal rules on spreads has not been examined in the literature. This paper estimates the effect of the Excessive Deficit Procedure (EDP) on sovereign spreads of European Union member states. Based on a sample including the 28 European Union countries over the period 1999 to 2016, sovereign spreads of countries placed under an EDP are found to be on average higher compared to countries that are not under an EDP. The interpretation of this result is not straight-forward as different channels may be at play, in particular those related with the credibility and the design of the EU fiscal framework. The specification accounts for typical macroeconomic, fiscal, and financial determinants of sovereign spreads, the System Generalized Method of Moments estimator is used to control for endogeneity, and results are robust to a range of checks on variables and estimators.

Download or read book Stability and Growth Pact written by Great Britain. Parliament House of Lords. Select Committee on the European Union and published by . This book was released on 2003 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: The stability and growth pact imposes tight limits on government deficits and debts, but in the past year several large member states have breached the rules of the pact. The Commission proposed a series of reforms at the end of 2002. This report examines the reasons for the pact, and analyses the proposed reforms. The Committee advocates a flexible interpretation of the pact, and does not think the 3 per cent of GDP ceiling on deficits should be taken as an absolute limit. Any decision to implement sanctions should take account of the underlying economic situation. The Commission should have the power to issue early warnings directly to member states. Overall, the proposed reforms provide a good basis to achieve the necessary flexibility if they are interpreted as sound guidelines for member states to follow.

Download or read book Reforming the Stability and Growth Pact written by Mr.Michael Deppler and published by International Monetary Fund. This book was released on 2005-02-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: A rules-based fiscal framework, such as the EU’s Stability and Growth Pact (SGP), can be an important bulwark against short-sighted policies. Although policies have improved following the SGP’s adoption, shortcomings remain. These, however, are rooted in the policies rather than the rules, where few changes seem necessary. Specifically, the Excessive Deficit Procedure needs a stronger focus on policies rather than outcomes, while staying operationally simple and transparent. Furthermore, reforms are needed to foster time-consistent national policies, budgetary transparency, and ownership of the Pact. Accordingly, parliaments should debate national Stability Programs and national fiscal councils should review these programs for parliaments.

Download or read book Fiscal Expectations Under the Stability and Growth Pact written by Mr.Marcos Poplawski-Ribeiro and published by International Monetary Fund. This book was released on 2011-03-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper uses survey data to analyze whether financial market expectations on government budget deficits changed in France, Germany, Italy, and the United Kingdom during the period of the Stability and Growth Pact (SGP). Our findings indicate that accuracy of financial expert deficit forecasts increased in France. Convergence between the European Commission's and market experts’ deficit forecasts also increased in France, Italy, and the United Kingdom, particularly during the period after SGP’s reform in 2005. Yet, convergence between markets’ forecasts and those of the French, German, and Italian national fiscal authorities seems not to have increased significantly during the SGP.

Download or read book Public Finance and National Accounts in the European Context written by Joaquim Miranda Sarmento and published by Springer. This book was released on 2019-01-31 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers an essential guide to Public Finance and National Accounts in the context of the European Union. Since the creation of the Eurozone, fiscal policy has been at the heart of economic (but also political/media) discussions in the EU. From the Stability and Growth Pact (1997) to the more recent Fiscal Treaty, EU and Eurozone, countries have been subject to various fiscal rules. The importance of these rules, and of the subsequent procedures that every Eurozone country has to adhere to, is unquestionable. The book provides the reader with an in-depth understanding of the complex EU rules concerning fiscal policy, breaking down the corresponding legal texts into simple and accessible language. It has a broad interdisciplinary appeal, and scholars and practitioners whose work involves these areas will find it of particular interest.

Download or read book The Euro and the Stability Pact written by Martin S. Feldstein and published by . This book was released on 2005 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper begins by discussing the inherent conflict between the simultaneous existence of a single currency for the countries of the European Economic and Monetary Union (EMU) and the independent fiscal policies of those countries. The Stability and Growth Pact was an attempt to reconcile that conflict. I describe how EMU governments have chosen to ignore the Stability Pact's constraint on budget deficits and how they sought to undermine it by changing the rules themselves. The final part of the paper describes the actual resolution of the issue by the agreement reached at the end of March 2005 by the European Council. The new policy effectively abandons the Stability Pact and leaves the way open to much larger sustained deficits"--NBER website

Download or read book The End of the Eurocrats Dream written by Damian Chalmers and published by Cambridge University Press. This book was released on 2018-12-13 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume argues that the crisis of the European Union is not merely a fiscal crisis but reveals and amplifies deeper flaws in the structure of the EU itself. It is a multidimensional crisis of the economic, legal and political cornerstones of European integration and marks the end of the technocratic mode of integration which has been dominant since the 1950s. The EU has a weak political and administrative centre, relies excessively on governance by law, is challenged by increasing heterogeneity and displays increasingly interlocked levels of government. During the crisis, it has become more and more asymmetrical and has intervened massively in domestic economic and legal systems. A team of economists, lawyers, philosophers and political scientists analyse these deeper dimensions of the European crisis from a broader theoretical perspective with a view towards contributing to a better understanding and shaping the trajectory of the EU.