Stupiditetspaktens död

Skuldtaket på 60 procent av BNP inte längre är rimligt. Att statsskulden ska vara högst 60 procent är en central del av de så kallade Maastricht-kriterierna och en grundbult i EU:s finanspolitiska regelverk. En annan central komponent, att budgetunderskottet ska vara högst 3 procent av BNP, vill Klaus Regling dock behålla.

Regling är chef för ESM, the European Stability Mechanism. ESM skapades under namnet EFSF 2010 och är euroområdets räddningsfond för medlemsländer som inte längre kan låna på den vanliga kapitalmarknaden.

Under tiden kan det vara värt att påminna om att ESO, en oberoende expertgrupp som sorterar under det svenska finansdepartementet, nyligen föreslog att det svenska skuldankaret tvärtom ska sänkas från 35 till 25 procent av BNP.

Viktor Munkhammar DI 6 maj 2021

https://www.di.se/analys/grundbulten-lossas-i-pandemins-spar/

How the euro was saved. In the French seaside resort of Cannes

To the astonishment of almost everyone in the room, Angela Merkel began to cry.

http://www.nejtillemu.com/spricker.htm#part1

A big step towards fiscal federalism in Europe

When the euro was born everyone knew that sooner or later a crisis would occur.

It was also clear that the stability and growth pact was – as I have said before – “stupid”

When the euro was born everyone knew that sooner or later a crisis would occur. It was inevitable that, for a such a bold and unprecedented project, in some countries (even the most virtuous ones), mistakes would be made and unforeseeable events occur.

It was also clear that the stability and growth pact was – as I have said before – “stupid”, not because it was mistaken in its objectives, but because it was founded on purely mathematical parameters without any discretionary powers or political instruments to enforce it.

Germany and France were the first countries to violate it, although not in a destabilising way: their finance ministers decided to ignore the objections of the European Commission (possibly because they were “too big to fail”).

Due to political difficulties it was not possible to protect the euro. I was warning years ago that, through no one’s fault in particular, extraordinary events could occur that would force joint co-ordination of fiscal policies. Then the Greek crisis arrived

Romano Prodi FT May 20 2010

https://www.ft.com/content/3f74c1d8-6444-11df-8618-00144feab49a

RE: Alla insiktsfulla personer, kanske även Gunnar Hökmark, Har från början förstått att Stabilitetspaktens regler var orimliga. Varför skapade man ändå dessa regler?

För att lura det tyska folket att överge sin älskade D-Mark.

Federalisterna är totalt samvetslösa i sin kamp för att skapa en Superstat 

byggd på The Treaty of Rome.