Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/155749
Authors: 
Karagounis, Konstantinos
Syrrakos, Dimitrios
Simister, John
Year of Publication: 
2015
Citation: 
[Journal:] Intereconomics [ISSN:] 1613-964X [Publisher:] Springer [Place:] Heidelberg [Volume:] 50 [Year:] 2015 [Issue:] 1 [Pages:] 32-39
Abstract: 
This paper assesses the limitations that the Stability and Growth Pact has imposed on Italy's economic recovery and its debt reduction. By evaluating Germany's fiscal policy since 1997, the paper offers recommendations for the Italian authorities. Measures put forward by European Union institutions are hampering Italy's economic recovery, and evidence indicates that fiscal consolidation is ineffective in reducing the debt-to-GDP ratio. A balanced budget fiscal injection seems the only way for Italy to escape from its economic slump without further violations of the SGP. The paper concludes that the Pact either needs to be reformed or replaced by a central fiscal authority.
Persistent Identifier of the first edition: 
Document Type: 
Article

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