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Tie Your Hands, Please; Germany's Debt Brake
Oleh:
[s.n]
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Economist (http://search.proquest.com/) vol. 401 no. 8763 (Dec. 2011)
,
page 50-52.
Topik:
International Relations
;
Politics
;
Economic Policy
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
EE29.69
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
Will Schuldenbremse enter the French or Italian languages the way "kindergarten" has become part of English? Perhaps. On December 5th the German chancellor, Angela Merkel, and the French president, Nicolas Sarkozy, agreed that the 17 euro-zone countries should insert a German-style "debt brake" into their constitutions. That, say Europe's first couple, will help prevent a recurrence of the crisis that threatens the euro's survival. The European Court of Justice should verify that all the national Schuldenbremsen pass muster. Germany is not the first European country to have one. Switzerland introduced a debt brake in 2001. Poland caps its public debt at 60% of GDP, the limit it will have to observe if it joins the euro. But Germany's constitutional Schuldenbremse of 2009 is likely to be the model for the 15 euro-zone countries that do not yet have one. The German measure has broad popular support. But it also has its critics. Some economists object in principle, and warn of disaster if Europe follows suit. A bigger group is in favour but sees room for improvement.
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