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The size and composition of government debt in the euro area
Lojsch, Dagmar Hartwig; Rodríguez-Vives, Marta; … - 2011
This paper explains the various concepts of government debt in the euro area with particular emphasis on its size and composition. In terms of size, the paper focuses on different definitions that are in use, in particular the concept of gross general government debt used in the surveillance of...
Persistent link: https://www.econbiz.de/10011606284
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The sustainability of public finances and fiscal policy coordination in the EMU
von Hagen, Jürgen - 2010
The financial crisis of 2007-2009 led to a renewed increase in government deficits and debts in many EU countries, causing a full-fledged fiscal crisis in Greece and severe fiscal pressures in other euro-area countries. This has prompted a series of proposals for improving the fiscal framework...
Persistent link: https://www.econbiz.de/10011430851
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The reform and implementation of the Stability and Growth Pact
Morris, Richard; Ongena, Hedwig; Schuknecht, Ludger - 2006
provisions of the revised SGP be rigorously implemented in order to ensure fiscal sustainability. …
Persistent link: https://www.econbiz.de/10011606199
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The global financial crisis: Lessons for European Integration
Dabrowski, Marek - 2009
The purpose of this paper is to analyze the various challenges facing European integration and the EU institutional architecture as result of the global financial crisis. The European integration process is not yet complete, both in terms of its content and geographical coverage. It can be...
Persistent link: https://www.econbiz.de/10011430830
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AIECE General Report: AIECE Spring General Meeting, Madrid, 26-27 April 2012
Frick, Andres; Hartwig, Jochen; Lassmann, Andrea; … - 2012
Persistent link: https://www.econbiz.de/10011386844
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Ist Griechenland noch zu retten? Und der Euro?
Boysen-Hogrefe, Jens - 2010
Aufsicht durch den IWF erwogen werden. Letztlich ist eine striktere Regelbindung der Finanzpolitik für alle Länder des … Wiederholung der aktuellen Krise zu vermeiden und die Stabilität des Euros langfristig zu garantieren. Im Vergleich zu … nationalen Schuldenkommissionen dabei den Vorteil, weiterhin antizyklische Finanzpolitik bei gleichzeitiger Glaubwürdigkeit zu …
Persistent link: https://www.econbiz.de/10010313143
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Rakenteellinen budjettitasapaino
Virkola, Tuomo - 2013
Euro Area member states have agreed to introduce a structural budget balance target to their national legislation (Treaty on Stability, Coordination and Governance). However, there exists no commonly agreed methodology to calculate this macroeconomic indicator. This report presents the...
Persistent link: https://www.econbiz.de/10012037631
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The bail-out!: Positive political economics of Greek-type crises in the EMU
Fahrholz, Christian; Wojcik, Cezary - 2010
The Greek bail-out was highly controversial. An oft-heard assessment is that i) the bail-out was a mistake, ii) the political haggling over it was irrational and iii) the bail-out will create a moral hazard problem. Contrary to this view, our analysis suggests that, given EMU's present...
Persistent link: https://www.econbiz.de/10011430854
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Euro zone crisis and EU governance: Tackling a flawed design and inadequate policy arrangements
Daianu, Daniel - 2012
This paper focuses on roots of strain in the European Monetary Union (EMU). It argues that there is need for a thorough reform of the governance structure of the Union in conjunction with radical changes in the regulation and supervision of financial markets. Financial intermediation has gone...
Persistent link: https://www.econbiz.de/10011430884
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Who's afraid of sovereign bonds?
Merler, Silvia; Pisani-Ferry, Jean - 2012
The crisis has underlined the strong interdependence between the euro-area banking and sovereign crises. To understand the role domestic banks have played in holding sovereign debt, a breakdown of government debt by holding sectors is required. The data shows that at the start of the crisis,...
Persistent link: https://www.econbiz.de/10010293573