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EconPol Europe: Alle großen Euro-Länder geben derzeit mehr Geld aus als Ausgabenregeln erlauben würden

In der Debatte über die Staatsausgaben der Euroländer werden die gegenwärtigen Regeln immer wieder als prozyklisch kritisiert. Sie führten zu übermäßig expansiver Fiskalpolitik in guten Zeiten und seien zu restriktiv in schlechten Zeiten. Alle großen EU-Länder geben derzeit mehr Geld aus als mit Regeln für nachhaltige öffentliche Finanzen vereinbar ist. Das ist das Ergebnis einer Untersuchung, die Clemens Fuest (ifo Institut München) und Daniel Gros vom Institut CEPS in Brüssel für das Forschungsnetzwerk EconPol Europe durchgeführt haben.
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Highly indebted Eurozone states should take advantage of low interest rates to reduce debts, say EconPol economists

Highly indebted Eurozone member states should use the currently low levels of interest rates and the fact that growth rates exceed interest rates in some countries to reduce public debt, according to economists from EconPol Europe. Nevertheless, they say, current conditions should be utilized to boost one-time investment projects, particularly in countries where public investment has been low in recent years.
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EconPol analysis shows all major eurozone countries are over-spending relative to rules for sustainable public finances

In the debate on euro area fiscal governance, the current deficit rules of the EU have repeatedly been criticised to have a pro-cyclical effect, leading to overly lax fiscal policies in good times and a too restrictive regime in bad times. An analysis by EconPol researchers Clemens Fuest (ifo) and Daniel Gros) (CEPS) shows that most major EU countries are over-spending at a level not compatible with spending rules for sustainable public finances.
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Eurozone budget: Member states should be responsible for structural reforms in Europe, but targeted incentives may foster convergence and competitiveness

Researchers from EconPol Europe say a system of national convergence roadmaps will achieve a faster implementation of structural reforms for economic convergence in Europe than the country-specific recommendations made by the European Commission in the context of the European Semester.
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