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Title:A new framework for fiscal policy consolidation in Europe PDF Logo
Authors:Bofinger, Peter
Ried, Stefan
Issue Date:2010
Citation:[Journal:] Intereconomics [ISSN:] 1613-964X [Publisher:] Springer [Place:] Heidelberg [Volume:] 45 [Year:] 2010 [Issue:] 4 [Pages:] 203-211
Abstract:Current developments in Greece make clear that the rules of the European Stability and Growth Pact (SGP) were neither strict enough nor enforced strictly enough. To deal with the ongoing exit from the fiscal crisis and its related phenomena, we propose a new framework for fiscal policy consolidation in Europe. The centrepiece is a European Consolidation Pact to supplement the SGP which would supply loan guarantees in exchange for a fee and stricter budget consolidation measures. The new framework also spells out the details of an orderly government default.
Persistent Identifier of the first edition:doi:10.1007/s10272-010-0338-3
Document Type:Article
Appears in Collections:Intereconomics - Review of European Economic Policy

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