The new EU fiscal rules proposed by the Commission will not slam public investment or exacerbate recessions in the immediate future, but they might haunt the eurozone in the long-term, Centre for European Reform's (CER) Sander Tordoir writes for EURACTIV.
Yesterday, the European Commission presented its reform proposal for the so-called “Stability and Growth Pact”, the EU’s rules for national public debts and deficits, which in the view of critics have in the past neither supported stability nor growth.
A German non-paper on the reform of European debt rules has been met with strong reactions from economists, who fear that the mistakes of the euro crisis could be repeated if the proposal is implemented strictly.
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