from the CPI measures used in the UK and some European countries because the various countries had not agreed a common … in excess of the supply of the goods and services available. Whether we have inflation in New Zealand or not, therefore … and reducing public debt. Economic policy has therefore permitted more sustained and stable growth in this period than …

approach 100% on average. There are various calls to abolish or soften the Maastricht rules of limiting sovereign debt. We see … the risk of a new sovereign debt crisis in this decade if it is not possible to bring public debt down to an acceptable …: excessively high public debt ratios. And it lowers the existing incentives for highly indebted governments to exert expansionary …

Against the background of the European Commission's reform plans of the Stability and Growth Pact (SGP) this policy … European Fiscal Board (EFB) and the IMK (European Fiscal Board 2018, 2020; Dullien et al. 2020). Our results for the euro area … expenditure rule, such that fiscal consolidation is achieved in a growth-friendly way. Raising the debt target to 90% and applying …

marginal part of them was issued by the European Financial Stability Facility and some provided for contingency future payments … regard to the participation of private sector investors in the largest Greek sovereign debt restructuring (“Private Sector … restrictions imposed, de facto, on the main freedoms of European Union (free movement of capital) and on fundamental rights of …

The eurozone sovereign debt crisis, despite all the pain and suffering that has caused to the peoples of the affected … expense of the initial commitment of the European political establishment that financial transfers from one Member State to …, outside of the current European accord, then how can the euro survive the next crisis or any unexpected turns of the present …

amounts of securities issued by the European Financial Stability Facility (EFSF) and European Stability Mechanism (ESM) and … private sector;Asset purchases:Purchase of euro-area or European debt (debts of various European rescue funds and the European …). Buying such pan-European assets would not affect the relative yields of euro-area sovereign debts and would not distort the …

’s two borrowing mechanism via separate supranational issuer: the European Financial Stability Facility (EFSF) and the …During and in the aftermath of the euro area sovereign debt crisis, many considered a common safe asset as a necessary … European Stability Mechanism (ESM), a lender-of-last resort to members of the currency union, a mechanism for (substantial …

focuses on. It is further argued that the empowerment of the European Parliament (and, where appropriate, of national … not purport to provide a detailed exegesis of the powers of the EU institutions, bodies, offices and agencies (and their … those reform plans emanating from (or under consideration by) the EU institutions have not always placed enough emphasis on …

did not prevent deficits and debt ratios that have threatened the stability of the monetary union in the past and that … methodology developed by a new and independent European Fiscal Council (EFC). The 3 percent deficit and 60 percent debt reference … was most visible during the decade following the euro area sovereign debt crisis, when structurally low real interest …

This paper examines the question whether joining EMU or the breach of the Stability and Growth Pact in 2003 had an … undermined from its beginning and only had a limited disciplining effect henceforth. Otherwise the breakout of the ongoing debt … crisis would not have been possible. These results advocate a sanctioning mechanism which cannot be influenced on a political …