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Email this citationCIAO DATE: 10/05
Fiscal Perspectives in Europe: Convergence and Debt's Burden
Thierry Warin
Working Paper Series 124
June 2005
Abstract
The paper addresses the question of the fiscal perspectives within the Economic and Monetary Union (EMU). By using a panel data analysis associated with an interpretation in terms of differences instead of levels, the results show a steady convergence of public deficits across the EMU, and that the EMU needs either to comply with the Lisbon agenda, or some kind of a growth strategy, or reduce the interest of the debt in order to regain some fiscal flexibility while abiding by the Stability and Growth Pact (SGP).
