Date: 2015
Type: Working Paper
A myopic economic constitution? : controlling the debt and the deficit without fiscal integration
Working Paper, EUI LAW, 2015/12
ALMENDRAL, Violeta Ruiz, A myopic economic constitution? : controlling the debt and the deficit without fiscal integration, EUI LAW, 2015/12 - https://hdl.handle.net/1814/35377
Retrieved from Cadmus, EUI Research Repository
This paper assesses the actual implications that the current budgetary supervision legal framework (both in the EU Law and Member States) has had on the Economic Constitution. Although there are tangible implications for all EU Member States, and the EU as a whole, in this paper I will mainly focus in the Euro Area, where budgetary discipline rules have greater consequences. Budgetary discipline rules do not automatically entail austerity measures or undermine the powers of Parliaments, at least in theory. They have however probably had a crowding-out effect for the construction of a (real) economic union, in that measures to construct fiscal capacity and tax integration to discuss public spending or to attain a real banking union (to name just a few) have been watered down if not abandoned outright.
Cadmus permanent link: https://hdl.handle.net/1814/35377
ISSN: 1725-6739
Series/Number: EUI LAW; 2015/12