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A case for adjusting fiscal consolidation in the eurozone. European Policy Brief No. 14, January 2013

Bosch, Xavier Vanden (2013) A case for adjusting fiscal consolidation in the eurozone. European Policy Brief No. 14, January 2013. [Policy Paper]

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    Abstract

    Fiscal consolidation is essential to ensure the sustainability of eurozone countries’ public debt. However, as a principle, consolidation should not be pursued at a pace unnecessarily undermining growth in the short term. Repeated downward revisions of growth call for the use of the flexibility foreseen in the EU fiscal framework. The Commission should adapt the deadlines for fiscal correction to prevent excessive, pro-cyclical adjustment in 2013. In turn, adequate surveillance and coordination must ensure structural adjustments constitute the core of fiscal consolidation plans.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    EU policies and themes > Policies & related activities > economic and financial affairs > fiscal policy
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Egmont : Royal Institute for International Affairs > European Policy Briefs
    Depositing User: Unnamed user with email kms214@pitt.edu
    Official EU Document: No
    Language: English
    Date Deposited: 23 Apr 2015 12:04
    Number of Pages: 8
    Last Modified: 23 Apr 2015 12:04
    URI: http://aei.pitt.edu/id/eprint/63537

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