The stability and growth pact : experience and future aspects


The stability and growth pact : experience and future aspects

Fritz Breuss (ed.)

(Schriftenreihe der Österreichischen Gesellschaft für Europaforschung (ECSA Austria), v. 10)

Springer, c2007

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Includes bibliographical references



In this book, experts from across Europe present their views about the legal and economic foundations of the Stability and Growth Pact (SGP) and its performance so far. The book deals with the economic problems with the pact, its theoretical basis, possible improvements and the implications of the reformed SGP. The book not only reports and analyzes the experiences with the old SGP, but it offers also a first ex ante assessment of the future aspects of the reformed SGP.


  • Preface.- Legal Aspects of the SGP: The Legal Foundations of the SGP in Primary and Secondary EC Law (J.-V. Louis).- Economic Problems with the SGP: Fiscal Policies in EMU at the Crossroads (P. van den Noord)
  • Fiscal Policy Coordination with independent Monetary Policies -- Is it possible? (A. H. Hallett)
  • Re-orientation of the Stability and Growth Pact (A. Sapir)
  • The debate on the SGP (E. Nowotny).- The Theoretical Basis of the SGP: On the Theoretical Underpinning of the Stability and Growth Pact (W. Kohler)
  • Problems with the Pact (W. Schelke).- Economic Aspects of the Reform of the SGP: Will the New Stability and Growth Paact Succed? An Economic and Political Perspective (M. Buti)
  • Some Thoughts on the Reforming the Stability and Growth Pact (P. De Grauwe).- Model Simulations of the SGP Fiscal Rule: Sluggish Growth and the SGP Fiscal Rule: Model Simulations (F. Breuss/W. Roeger)
  • The SGP Fiscal Rule in the Case of Sluggish Growth: Some alternative simulations (R. Neck/G. Haber).- List of Authors.

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