Fiscal Rules: What Is Effective?
Current fiscal crisis in the EU is, among others, a result of expansionary fiscal policy conducted in previous periods and especially during economic booms.
Articles
The Euro: A Community of Shared Destiny?
In March 2010, when the Greek debt crisis was heating up, then-ECB president Jean Claude Trichet declared to the EU parliament that the “monetary Union in Europe is far more than a monetary arrangement. It is a union of shared destiny”. Less than two months later the ECB reversed its refusal to monetize debt and openly started buying government bonds in violation of its own charta. Germany also gave up its reservations about bailing out…
Modern System of Paper Currency Is Like a Cheap Hot Dog – Fiat Euro! 24/2012
Golden goal in Spanish net. Spain (unfortunately) is not Uganda! What level of interest rate Italian debt has to reach so Europe would decide to help them? Penalties and expropriations for layoffs –labour market reform done in a French way. In which countries economic laws don’t apply? And who will pay for that? Even 11 Marhsall plans didn’t help. Courage in a Slovak way. First Things First. Congratulations to the Queen Elizabeth II on her…
LFMI Welcomed Proposals to Amend the Labour Code
LFMI submitted comments to the Government and the Ministry of Social Security and Labour, welcoming Government-proposed amendments to the Labour Code. LFMI believes that removing the requirements to keep employment contracts record books, to issue monthly pay statements and to conclude labour contracts according to the model form will reduce the high administrative burden for companies. LFMI is of the opinion that such proposals as the permission to conclude fixed-term labour contracts for permanent jobs,…
Constitutional Set-Back?
The current Fundamental Law of of Hungary was adopted over a year ago, in April 2011. Due to this anniversary the recent research of Republikon Institution has looked how the so called ’National Avowal ’preamble fits the constitution’s introductions of Central and Eastern European and wider European countries. Preambles in general Preambles are usually can be found in the beginning of the text of laws. They could function as a foreword: the legislators mainly mark…
What Do You Think Monsieur Bastiat?
Monsieur Bastiat would be surprised how close to reality is his well-known essay “Petition of the Manufacturers of Candles…” In this paper manufacturers of candles and everything connected with lighting have complained, via a petition, of the intolerable and predatory competition of the Sun. In which they claim to inundate the national market with the light at an unbelievable low price and from their point of view this ruins a whole industry. They require the Members…
LFMI News and Activities: May 2012
In May, the Lithuanian Tripartite Council debated Government-proposed amendments to the Labour Code that envisaged the first-ever thorough revision of employment regulation in Lithuania. The package contains proposals that would render labour relations more flexible to correspond to the real needs of the market and the existing reality. Supporting the Government’s proposals, we took part in the sittings of the Tripartite Council and in the public debates, highlighting that these changes would be beneficial both…
The 2012 Universe of Public Expenditures
Slovak economic think tank INESS prepared updated version of the Universe of Public Expenditures, a visual feature at The Price of the State (SVK and ENG version). Majority of population (and voters as well) have only very limited knowledge how much money they contribute to online casino the state and how the money joyce”s driving school is proud to provide quality driver”s education in barrington, crystal lake, mchenry, palatine, hoffman estates, fox river grove, cary,…
We Made Mistakes Out of Naivety – Fiat Euro! 23/2012
France makes promises and Commission is happy. Will Spain get gifts during the weekend? Be careful about your language, there is always somebody listening. Is euro a dogma? Will it rain dollars or are we facing a dry summer? Silvio is joking again. In a detailed analysis of French public finances, the European Commission expressed concern if the country will be able to fulfill the deficit target 3% of GDP in the year 2013 and it warned…
Tax Freedom Day 2012 in the Czech Republic 6 Days Earlier Than in 2011
Tax Freedom Day that is calculated and promoted by Liberalni Institut every year in the Czech Republic, was celebrated on Saturday, 9th June 2012. This result indicates six-day improvement compared to the last year, i.e. the Czech taxpayers must work 160 days to cover expenditures of the general government. In 2011, the obligation was 165 days (one day difference is due to leap-year). Tax Freedom Day is an indicator that divides the year into two…
