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The case of the disappearing Fiscal Compact. CEPS Commentary, 5 November 2014

Gros, Daniel. and Alcidi, Cinzia. (2014) The case of the disappearing Fiscal Compact. CEPS Commentary, 5 November 2014. [Policy Paper]

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    Abstract

    Following the Commission’s autumn forecast showing that only five euro-area countries exhibit a fiscal balance better than the 0.5% of GDP deficit allowed by the Fiscal Compact, Daniel Gros and Cinzia Alcidi attempt to explain in this new Commentary why there is precious little policy debate over these flagrant treaty violations. They find that it is not possible to put fiscal policy in a legal straightjacket and that the tight rules enshrined in the new Treaty and in national constitutions are discarded as soon as they become politically inconvenient.

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    Item Type: Policy Paper
    Subjects for non-EU documents: 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 > Centre for European Policy Studies (Brussels) > CEPS Commentaries
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 07 Nov 2014 09:07
    Number of Pages: 3
    Last Modified: 07 Nov 2014 09:07
    URI: http://aei.pitt.edu/id/eprint/57194

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