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HomeIs the main objective of the preventive arm of the Stability and Growth Pact delivered
Special report No 18, 2018
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The European Commission has exercised discretionary powers granted by the preventive arm regulation very extensively with a view to reduce the adjustment requirements, both by setting the implementation rules and in individual decisions. We consider that the combination of the current matrix parameters, allowed deviations and flexibility clauses cumulatively erode the target set in the regulation which is to achieve an average annual adjustment of 0.5 % of GDP over the cycle. This prevents that the medium term objectives of Member States are reached within a reasonable period. Particularly worrisome is very slow, or even absent adjustment in several Member States with high public debt ratio. The implementation rules and Commission’s practice therefore need to be reviewed and strengthened.
- Pubblicato:
- Temi: Politica economica – Unione economica e monetaria , Finanze comunitarie
- Argomento: audit , bilancio , codice di condotta , criterio di convergenza , finanze pubbliche , patto di stabilità , politica fiscale , politica strutturale , previsione a media scadenza , regolamento (UE) , relazione , situazione economica
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| ISSN 1977-5679 | ISBN 978-92-847-0271-8 | DOI 10.2865/5141 | Numero di catalogo QJ-AB-18-015-EN-N |
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| ISSN 1977-5679 | ISBN 978-92-847-0282-4 | DOI 10.2865/39245 | Numero di catalogo QJ-AB-18-015-EN-Q |
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