The stability a sustainable growth in the Eurozone
|Author:||Bc. Petra Hájková|
|Year:||2005 - summer|
|Leaders:|| † prof. Ing. Luděk Urban CSc., Jean Monnet Professor
|Work type:|| Bachelors
|Awards and prizes:|
|Abstract:||The idea of additional fiscal rules was created in the middle of 90th of the 20th century. These rules should prevent EMU member states from ineffective using of their fiscal policies and so increasing inflation in the Eurozone. This idea finally led to adopting the Stability and Growth Pact on 7th July 1997.
This bachelor thesis makes a global view on the Pact. It deals with the Pact’s initiation and concrete rules and also with member states’ experience with these rules and a criticism that has widened. A recently adopted reform of the Pact and its assessment closes this paper. The Pact gained more flexibility by this reform but it will more likely lead to relaxation of the rules rather than to their fixing.