Unsustainable public debt in a european fiscal union? Report as inadecuate

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Revista Finanzas y Política Económica 2017, 9 1

Author: Gábor Kutasi

Source: http://www.redalyc.org/articulo.oa?id=323549941002


Revista Finanzas y Política Económica ISSN: 2248-6046 revistafinypolecon@ucatolica.edu.co Universidad Católica de Colombia Colombia Kutasi, Gábor Unsustainable Public Debt in a European Fiscal Union? Revista Finanzas y Política Económica, vol.
9, núm.
1, enero-junio, 2017, pp.
25-39 Universidad Católica de Colombia Bogotá, Colombia Available in: http:--www.redalyc.org-articulo.oa?id=323549941002 How to cite Complete issue More information about this article Journals homepage in redalyc.org Scientific Information System Network of Scientific Journals from Latin America, the Caribbean, Spain and Portugal Non-profit academic project, developed under the open access initiative Finanz.
econ., ISSN: 2248-6046, Vol.
9, No.
1, enero-junio, 2017, pp.
25-39 http:--dx.doi.org-10.14718-revfinanzpolitecon.2017.9.1.2 Gábor Kutasi* Corvinus University of Budapest, Budapest, Hungría. Recibido: 3 de diciembre de 2015 Concepto de evaluación: 29 de junio de 2016 Aprobado: 20 de octubre de 2016 Unsustainable Public Debt in a European Fiscal Union? ABSTRACT Artículo de investigación © 2017 Universidad Católica de Colombia. Facultad de Ciencias Económicas y Administrativas. Todos los derechos reservados Some EU members faced years of crisis in the first half of the 2010s with an excessive initial public debt, but several others had broad room for fiscal stimulus.
However, the prolonged duration of the European economic depression expended public budgets, while exhausting stimulus policies and sovereign solvency.
Meanwhile, one of the ways out of depression is a proposed centralization of the EU through fiscal union.
Are the eurozone countries ready to participate in a risk pool in public finances? The study seeks to answer this question.
The article presents the hypothesis that the sustainability of public finances deteriorated during the global and euro crisis in the majority of the eurozone member countries and in the EU, and this phenomenon is discou...


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