Tag: Stability and Growth Pact

Euros & Dollars: Two Problems with EU’s New Fiscal Rules

The EU’s new fiscal rules are supposed to solve the problem with member state budget deficits. But so far, neither the European Parliament nor the European Council has addressed the two biggest problems with their reform efforts.

Europe: Stop Falling Behind!

Europe’s economy is falling behind America, and the gap is getting big. The reason is obvious, and so is the solution.

Fiscal Forecast Europe: ECB Will Soon Return to Money Printing

With a welfare state that dominates their budgets, European governments are exceedingly vulnerable to a recession. When tax revenue declines and entitlements force governments to spend more, the inevitable result is larger budget deficits. What will the ECB do in response to that?

Analysts Agree: EU Facing Recession

Given the high level of economic integration in Europe, it is unlikely that a recession will be confined to half the continent.

The Means to European Prosperity

You don’t make promises you can’t keep. Nor do you keep an economic structure that can’t promise growth and prosperity.

The Hurdles to European Prosperity

Rather than sinking further into debt to maintain current, high levels of government spending, it is time for Europe’s leaders to fundamentally reconsider their economic and social policies. It is time for them to adopt an entirely new program for economic prosperity.

The Euro at 20: Dysfunction by Design

The euro itself is only part of the failure. An entire structure of government institutions, laws, and even constitutional provisions were erected around it in order to secure its success. It all looked impressive two decades ago; today, the structure itself, from the European Central Bank (ECB), to the so-called Stability and Growth Pact, is a package of sordid evidence that even under democratic governments, central economic planning is a bad idea.

Macron’s Euro-Vision: More Brussels and More Debt

President Macron wants the EU to reform budget rules to increase public-sector investments, which, he hopes, would lead to stronger economic growth and higher levels of employment. Macron’s vision is understandable, but his reforms are likely to defeat their own purpose.