Abstract
This paper analyses some one-off measures and other accounting tricks that EU member States have been using to qualify for EMU membership. Moving from empirical evidence to strategic goals, this investigation brings to the fore three crucial issues: the weakness of the methodological rules of the European system of accounts used to assess budgetary convergence in line with the Maastricht Treaty; the open-ended definition of the required budgetary discipline; the shortcomings of the excessive deficit procedure enforced through the Stability Pact. The conclusion urges a return to a strict annual balance requirement for governments' current accounts, to impede strategic adjustments of budgetary positions that are in fact creative accounting operations.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
