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

Kód výsledku v 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>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2014

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Current Trends in Public Sector Research. Proceedings of the 18th International Conference

ISBN

9788021066113

ISSN

2336-1239

e-ISSN

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Počet stran výsledku

9

Strana od-do

81-89

Název nakladatele

Masarykova univerzita

Místo vydání

Brno

Místo konání akce

Šlapanice

Datum konání akce

16. 1. 2014

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

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