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Oręziak Leokadia
Reforma Paktu Stabilności i Wzrostu i jej potencjalne konsekwencje
Reform of the Stability and Growth Pact and its possible consequences
Bank i Kredyt, 2005, nr 7, s. 14-27
Finanse publiczne, Polityka budżetowa, Polityka pieniężna, Deficyt budżetowy
Public finance, Budgetary policy, Monetary policy, Budget deficit
Unia Europejska (UE)
European Union (EU)
Przedstawiono filozofię stosowania ograniczeń w polityce budżetowej krajów Unii Europejskiej. Przybliżono istotę Paktu Stabilności i Wzrostu oraz kierunki reformy Paktu zaproponowane przez kanclerza Niemiec Gerharda Schroedera. Omówiono postanowienia Rady Europejskiej i Rady Ecofin z marca 2005 w sprawie reformy Paktu Stabilności i Wzrostu. Dokonano oceny zmian prowadzonych w Pakcie.

The provisions of the Stability and Growth Pact have been considerably eased in March 2005, upon pressures from the euro area Member States that have had serious problems for the past few years reducing their budget deficits to a level below 3 procent of GDP. The reform of the Pact points to the weakened mechanisms that discipline the budgetary policy of EU countries. Now, they gain more freedom as regards determining the deficit reduction rate. As a result, the risk of excessive deficits prevailing for longer time periods occurs, which may in consequence lead to an increase in the public debt level. These factors may adversely impact the standing of public finances in the euro area and other EU countries. (original abstract)
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  2. Berlin et Paris imposent un assouplissement du pacte de stabilite et de croissance. "Le Monde" (Paris) z 21 marca 2005 r.
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  6. Death of the Pact. "Financial Times" z 22 marca 2005 r.
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  8. EU economy - Creative accouting. "EIU ViewsWire" (New York) z 16 listopada 2004 r.
  9. J. Fels: Markets can punish Europe's fiscal sinners. "Financial Times" z 1 kwietnia 2005 r.
  10. C. Hefeker, Will a Revised Stability Pact Improve Fiscal Policy in Europe? "Intereconomics" (Hamburg), styczeń-luty 2005 r.
  11. Improving the implementation of the Stability and Growth Pact. Council Report to the European Council of 20 March 2005.
  12. In The Long Run, We Are All Debt: Aging Societies And Sovereign Ratings. Standard & Poor's, 18 marca 2005 r.,
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  20. J.M. Vittori: L'euro passe du pacte a la confiance. "Les Echos" (Paris) z 23 marca 2005 r.
  21. A.A. Weber: Challenges to convergence in the larger EU. Deusche Bundesbank. "Auszuge aus Presseartikeln" nr 10 z 9 marca 2005 r.
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