IDEAS home Printed from https://ideas.repec.org/a/bpj/evoice/v20y2023i1p97-102n10.html
   My bibliography  Save this article

Debt Sustainability in the Emerging New EU Fiscal Framework: A Major Change

Author

Listed:
  • Alcidi Cinzia

    (Department of Economic Policy, Centre for European Policy Studies, Place du Congres 1, Brussels, 1000, Belgium)

Abstract

If agreed, the new European Commission legislative proposals on the reform of the fiscal framework will represent a major change. First and foremost debt replaces budget deficit as central variable, and debt sustainability assessment becomes a pivotal concept. It allows to introduce a multiannual approach and more flexible framework disconnected from numerical rules, which, in principle, gives member states greater ownership but also greater responsibility for their choices. It can only work if member states recognise that debt sustainability assessment is a risk-management tool that has to be taken seriously.

Suggested Citation

  • Alcidi Cinzia, 2023. "Debt Sustainability in the Emerging New EU Fiscal Framework: A Major Change," The Economists' Voice, De Gruyter, vol. 20(1), pages 97-102, June.
    • Handle: RePEc:bpj:evoice:v:20:y:2023:i:1:p:97-102:n:10
    DOI: 10.1515/ev-2023-0025
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/ev-2023-0025
    Download Restriction: For access to full text, subscription to the journal or payment for the individual article is required.
    File URL: https://libkey.io/10.1515/ev-2023-0025?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    EU fiscal governance; debt sustainability; risk-management;
    All these keywords.

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bpj:evoice:v:20:y:2023:i:1:p:97-102:n:10. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.degruyter.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.