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The European fiscal framework: What lessons can we learn from the crisis?

Author

Listed:
  • Christophe Schalck

    (ESG Management School Paris)

Abstract

This paper provides some explanation of recent fiscal developments in European countries and offers several guidelines for a new European fiscal framework. We propose a framework based on three pillars: a quantitatively and qualitatively extended preventive arm, an improved dissuasive arm and a financial arm that facilitates financial solidarity between member states, thus increasing the credibility of the euro area.

Suggested Citation

  • Christophe Schalck, 2011. "The European fiscal framework: What lessons can we learn from the crisis?," Economics Bulletin, AccessEcon, vol. 31(1), pages 358-366.
    • Handle: RePEc:ebl:ecbull:eb-10-00566
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    File URL: http://www.accessecon.com/Pubs/EB/2011/Volume31/EB-11-V31-I1-P34.pdf
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    Citations

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    Cited by:

    1. Thomai Filippeli, 2011. "Inflation differentials in EMU: what can we learn from the time series evidence?," Economics Bulletin, AccessEcon, vol. 31(3), pages 2541-2548.

    More about this item

    Keywords

    Stability and Growth Pact; Fiscal policies; Sovereign default;
    All these keywords.

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H6 - Public Economics - - National Budget, Deficit, and Debt

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