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Eurozone countries must not be forced to meet deficit targets. Bruegel Policy Brief, 27 February 2012

Pisani-Ferry, Jean and Teulings, Coen (2012) Eurozone countries must not be forced to meet deficit targets. Bruegel Policy Brief, 27 February 2012. [Policy Paper]

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    Abstract

    Last year thirteen eurozone countries surpassed the deficit to gross domestic product ratio of three per cent. The latest forecasts by the European Commission suggest the region is slipping into a mild recession this year. As a consequence, in the absence of further policy measures, most of these countries risk missing their budgetary targets. This especially applies to Spain, where last year's deficit was eight per cent of GDP. The Commission expects its output to decline by one per cent this year (not a particularly pessimistic forecast) yet the country is still supposed to reach the three per cent deficit threshold by next year. Many other countries are in the same boat.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on and consequences/reforms
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bruegel (Brussels) > Policy Briefs
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 27 Feb 2012 09:41
    Number of Pages: 2
    Last Modified: 27 Feb 2012 09:41
    URI: http://aei.pitt.edu/id/eprint/33749

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