Euro-area fiscal policies will not find common ground
2015; Emerald Publishing Limited; Linguagem: Inglês
10.1108/oxan-db206276
ISSN2633-304X
Tópico(s)Fiscal Policies and Political Economy
ResumoSignificance This follows the submission by euro-area countries of their 2016 draft budgetary plans (DBPs), in compliance with the Stability and Growth Pact (SGP). The Commission will release its judgements by end-November. DBPs can be deemed 'compliant', 'broadly compliant' or 'at risk of non-compliance'. Impacts Under October 21 plans, the Commission will pursue more transparency for economic forecasts and surveillance decisions. The ongoing recovery and the Commission's flexible approach will support fiscal consolidation efforts. Submission of Portugal's DBP remains subject to the fate of newly reappointed centre-right Prime Minister Pedro Passos Coelho. The Spanish government will have to submit a revised budget following the Commission's early judgement in its case.
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