How could the Stability and Growth Pact be simplified?
The complexity of the SGP, which may have contributed to its limited effectiveness, reflects largely the conflict between the need to make the original SGP rules more stringent and the desire to allow flexibility with respect to various country circumstances. Now that the effects of the largest economic shock since the 1930s are fading away, a major simplification of the system could be achieved by removing some margins of flexibility, while possibly relaxing some of the SGP long-term parameters. The coexistence of the MTO rule and the expenditure benchmark could also be reconsidered. A more radical solution would involve shifting to a single rule in which an “operational target” would respond to deviations of public debt from its long-term objective.
Analiżi fil-Fond
Awtur estern
Carlo Cotterelli
Dwar dan id-dokument
Tip ta’ pubblikazzjoni
Kelma għat-tiftix
- analiżi ekonomika
- EKONOMIJA
- ekonomija monetarja
- FINANZI
- governanza
- governanza ekonomika (UE)
- Istituzzjoni tal-UE
- istituzzjonijiet tal-UE u servizz ċivili Ewropew
- makroekonomija
- patt ta' stabbiltà
- POLITIKA
- politika u sikurezza pubblika
- relazzjonijiet monetarji
- riforma istituzzjonali
- setgħa eżekuttiva u servizz pubbliku
- Stat Membru tal-UE
- tnaqqis tad-dejn
- trasparenza fit-teħid ta' deċiżjonijiet
- UNJONI EWROPEA
- ĠEOGRAFIJA
- ġeografija ekonomika
- żona tal-euro