Pisani-Ferry, Jean; Sapir, André - 2009
-month moving average of monthly break-even rates)
Source: BIS, Bruegel calculations
3
3. On the basis of EU Commission forecasts … weaknesses of the Eu-
ropean budgetary discipline framework.
European surveillance was even less effective
in addressing non …-budgetary sources of instability. Article 99
of the Treaty mandates the EU to monitor economic develop-
ments in member states and to …