It is good that an agreement concerning law regulating fiscal responsibilities is reached in our Parliament, involving whole political spectrum. It is great to put down the fire with common effort. It would be even better, however, if we agreed on reasons of this long fire of debt, who and how caused it. And one of the main reasons is the fact that politicans in many countries willingly listened to economic theories, whose implementation in…
After the general government deficit in Poland reached 7.8% GDP in 2010, at the beginning of 2011 Polish government presented a plan to reduce it to 3% GDP by 2012, a goal which is in line with Maastricht criteria.
There have been talks, for a few months now, about introducing new and stricter fiscal rules in European Union (EU) member-states, which would help reduce the fast piling up of public debt. During the last week of January there was, at last, a public debate about the position of Bulgaria on this issue. The debate was in the form of a round table organized by the Institute for Market Economics called “Fiscal Rules – Alternatives…
