Fiscal Policy Coordination in Europe
2010 (English)Report (Other academic)
A fundamental overhaul of EU economic governance is needed. The most important reform is a strengthening of national fiscal frameworks, including the establishment of independent fiscal watchdogs in Member States that do not yet have such institutions. At the European level, a permament crisis resolution mechanism should be integrated with both broader macroeconomic surveillance and the sanction system. An independent European fiscal council could, based on macroeconomic risk considerations, decide in advance appropriate haircuts in the event of future sovereign debt restructuring.
Place, publisher, year, edition, pages
Stockholm: IIES , 2010. , 19 p.
Seminar Paper / Institute for International Economic Studies, Stockholm University. (Online), ISSN 1653-610X ; 765
IdentifiersURN: urn:nbn:se:su:diva-43220OAI: oai:DiVA.org:su-43220DiVA: diva2:354734
Briefing paper for the European Parliament PE 440.292, /IP/A/ECON/NT/2010-10/, September 2010. Also in Studies in Fiscal Policy 2010/8, Swedish Fiscal Policy Council, Stockholm.2010-10-042010-10-042011-01-18Bibliographically approved