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Braucht die EU einen flexibleren Stabilitätspakt?

Author

Listed:
  • Hefeker Carsten

    (Hamburgisches Welt-Wirtschafts-Archiv (HWWA), Neuer Jungfernstieg 21, D – 20347 Hamburg)

  • Heinemann Friedrich

    (Zentrum für Europäische Wirtschaftsforschung ZEW, L 7.1, D – 68161 Mannheim)

  • Zimmermann Klaus F.

    (Deutsches Institut für Wirtschaftsforschung (DIW), Königin-Luise-Str. 5, D – 14195 Berlin)

Abstract

In his contribution Carsten Hefeker points out that most of the official arguments concerning the necessity of the Stability and Growth Pact are not convincing. Nevertheless, a mechanism that credibly avoids excessive debts and deficits is needed in most member states. It would be more useful, however, if such rules would focus on overall debt rather than on deficits. In addition, he advocates to create an external control for such fiscal rules, independent from the Commission and ECOFIN. He concludes that the Pact does not need to become more flexible, but more credible.

Suggested Citation

  • Hefeker Carsten & Heinemann Friedrich & Zimmermann Klaus F., 2004. "Braucht die EU einen flexibleren Stabilitätspakt?," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 53(1), pages 53-80, April.
    • Handle: RePEc:lus:zwipol:v:53:y:2004:i:1:p:53-80:n:4
    DOI: 10.1515/zfwp-2004-0104
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