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The Roles of Fiscal Rules, Fiscal Councils and Fiscal Union in EU Integration
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
2015 (English)In: Routledge Handbook of the Economics of European Integration / [ed] H. Badinger and V. Nitsch, Routledge, 2015Chapter in book (Other academic)
Abstract [en]

The right of national parliaments to decide the government budget is usually seen as a key part of national sovereignty. Hence it is natural that the appropriate amount of fiscal integration has all along been a central issue in the debate on European integration. The issue came to the forefront with the introduction of the euro, as it was then necessary to take a stand on whether monetary policy could be centralised without a similar centralisation of fiscal policy (fiscal union). The avenue chosen was to go ahead with the common currency without full-fledged fiscal policy co-ordination. Instead reliance was put on fiscal rules at the European level.

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Routledge, 2015.
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URN: urn:nbn:se:su:diva-125224DOI: 10.4324/9781315796918.ch11ISBN: 9780415747707ISBN: 9781315796918OAI: diva2:892118
Available from: 2016-01-08 Created: 2016-01-08 Last updated: 2016-03-03Bibliographically approved

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Calmfors, Lars
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