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[경제] Centralisation or Decentralisation of European Fiscal Rules?

중동부유럽 일반 국외연구자료 연구보고서 - Intereconomics 발간일 : 2023-08-08 등록일 : 2023-08-31 원문링크

When EU countries adopted the euro, they were aware of the challenges posed by decentralised fiscal policy in a monetary union. In particular, this arrangement raises concerns that individual countries will greatly expand their public debt in the common currency, thus complicating and undermining monetary policy. Furthermore, excessive public debt in one country could require large-scale financial assistance from other countries. To prevent the emergence of such fiscal policy externalities, limits on public deficit and debt levels were set in advance.

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