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| Author: | Vesper, D. |
| Title: | A National Stability Pact - how can it be achieved? |
| Journal: | Economic Bulletin
2002 : APR, VOL. 39:4, p. 113-118 |
| Index terms: | BUDGET EUROPEAN COMMISSION EUROPEAN UNION FISCAL POLICY STABILIZATION GERMANY |
| Language: | eng |
| Abstract: | The row between the German federal government and the European Commission over Germany's high federal deficit has also lead to a row between the German federal government and the German Länder, or states, about the budget level at which budgetary discipline has apparently been lacking. The deficit limits specified by European Stability and Growth Pact have also considerably reduced the states' scope of action. A solution to this explosive situation is urgent if fiscal policy is to retain credibility. |
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