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37
pages
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Français
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Documents
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1993
Description
Budgetary Policies in Europe : Coming to Complete Halt ? Jean-Marc Daniel, Alain Gubian, Hélène Harasty Because of the Maastricht treaty, the members of Ec are supposed to reduce their fiscal deficit and the burden of their public debt. This paper presents the situation of these countries and shows how, after the increase of oil prices in 1973, they tried to maintain a high level of growth by a fiscal deficit and how they were obliged after 1979, one after another to reduce it and to reduce the public spendings. At the end of 1990, the fiscal deficits were everywhere rather low and all the members of Ec seem to have the same economic policy. But, with the recession and the crisis of the Erm, strong differences appeared and the fiscal deficits grew again everywhere so that no country will likely be able to respect the clauses of the treaty but Luxemburg. Some thinked that central budget of Ec, managed from Brussels, could reach a high enough figure to be used as an implement of economic policy. According to the recent decisions, it seems doomed to stay at the rather low level of 1,2% of European Gdp so that Ec will have to wait during a long time for a real fiscal policy.
35 pages
Source : Persée ; Ministère de la jeunesse, de l’éducation nationale et de la recherche, Direction de l’enseignement supérieur, Sous-direction des bibliothèques et de la documentation.
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Publié par
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Publié le
01 janvier 1993
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Langue
Français
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Poids de l'ouvrage
3 Mo