Publication
24 Jul 2014
This brief reviews the EU's Stability and Growth Pact (SGP) and whether its flexibility clauses can deal with unexpected drops in economic activity and allow for the implementation of economic structural reforms. Overall, the authors find that the SGP does contain sufficient flexibility to accommodate an unexpected drop in economic activity and that consequently, there is no need to review the existing rules to respond to the low levels of growth in the EU.
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English (PDF, 14 pages, 600 KB) |
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Author | Stefano Micossi, Fabrizia Peirce |
Series | CEPS Policy Briefs |
Issue | 319 |
Publisher | Centre for European Policy Studies (CEPS) |
Copyright | © 2014 Centre for European Policy Studies (CEPS) |