(In)efficiency of the Stability and Growth Pact - What next?

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F14%3A00076603" target="_blank" >RIV/00216224:14560/14:00076603 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
(In)efficiency of the Stability and Growth Pact - What next?
Original language description
Once the member states of EU entered the European Monetary Union they lost the possibility to use the monetary policy as a tool of macroeconomic stabilisation. This competence is transferred to European Central Bank who is therefore responsible for the monetary policy in EU. The only instrument left for the member countries is the fiscal policy. Since there is 27 fiscal policies held by national governments the strong fiscal coordination is needed to ensure the stability of the common currency. The Stability and Growth Pact was signed in 1997 as an instrument to enforce the fiscal responsibility in EU. States of the EMU have agreed to satisfy the 3% of GDP for the maximum annual public budgets deficit and 60% of GDP for the maximum annual public debt.Lot of hopes were put in this instrument but after more than 15 years of its application we can say that the SGP failed so did insurance of fiscal discipline on European level.
Czech name
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Czech description
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Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Current Trends in Public Sector Research. Proceedings of the 18th International Conference
ISBN
9788021066113
ISSN
2336-1239
e-ISSN
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Number of pages
9
Pages from-to
81-89
Publisher name
Masarykova univerzita
Place of publication
Brno
Event location
Šlapanice
Event date
Jan 16, 2014
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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