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 …The rules of the European Stability and Growth Pact (SGP) were neither strict enough nor enforced strictly enough. We … law in case of straying from the defined path. Third, pact members may apply for ECP guarantees for each newly issued …