Bofinger, Peter; Ried, Stefan - In: Revue de l'OFCE n° 116 (2011) 1, pp. 277-290
propose a new framework for fiscal policy consolidation in Europe. Centre stage takes a European Consolidation Pact (ECP … government debt that is in line with the specified path. These guarantees are, fourth, paid for by a percentage fee. Fifth, non … law in case of straying from the defined path. Third, pact members may apply for ECP guarantees for each newly issued …