The Stability and Growth Pact : Problems and a Possible Solution

  title={The Stability and Growth Pact : Problems and a Possible Solution},
  author={Anne C. Sibert},
1. Executive Summary In this note, I describe why we need a European …scal framework. I specify what it means for a government’s …scal policy to be sustainable. I argue that while the current European …scal framework is likely to promote sustainable …scal policies, if it is enforced, it is also apt to force countries to follow suboptimal …scal policies. I explain why there is no …scal rule that will provide a satisfactory …scal framework. Finally, I describe an alternative: a …scal… CONTINUE READING


Publications referenced by this paper.

Stability and Growth in Europe: Towards a Better Pact, Monitoring European Integration

  • Fatás, Antonio, Jürgen von Hagen, Andrew Hughes Hallet, Rolf R. Strauch, Anne Sibert
  • Economic Policy Research,
  • 2003
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