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Pursuing European Debt Crisis: Fiscal Discipline

Author

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  • Zafer SEZGIN

    () (Ziraat Bankasý)

Abstract

Maastricht Treaty accepts some criteria for securing fiscal and monetary discipline. Fiscal discipline criteria consist of budget deficit and public borrowing criteria. On monitoring these criteria it is obvious that fiscal discipline is not provided in recent years. There is one monetary policy but lots of fiscal policies at EU. This effects efforts that aim re-constituting fiscal discipline negatively. So economic crisis increases. Monetary policy can not be effective without fiscal policy. For ending crisis providing fiscal discipline is crucial.

Suggested Citation

  • Zafer SEZGIN, 2013. "Pursuing European Debt Crisis: Fiscal Discipline," Istanbul Commerce University Journal of Social Sciences, Istanbul Commerce University, vol. 23(1), pages 81-90.
  • Handle: RePEc:icu:journl:v:23:y:2013:i:1:p:81-90
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