Fiscal rules of EU were ‘drawn out of thin air’ — Nobel prize winning economist | Business Post

  • 📰 businessposthq
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 71%

United States News News

United States United States Latest News,United States United States Headlines

Fiscal rules of EU were ‘drawn out of thin air’ — Nobel prize winning economist. lorcanallen reports.

Prof Joseph Stiglitz: ‘Servicing historic debt will occupy more and more of the fiscal space in Europe, which will in turn force a contraction of investment and ultimately lead to lower economic growth.’ Picture: James Horan/Photocall Ireland

The fiscal rules of the European Union make no economic sense and were “drawn out of thin air”, according to Prof Joseph Stiglitz, a Nobel prize winning economist who previously held senior positions in the World Bank and the Clinton Administration. The world-renowned economist said the EU’s growth and stability pact, which has underpinned the central fiscal rules of the bloc for the past 30 years, had many “fundamental flaws” and were counterproductive...

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in US

United States United States Latest News, United States United States Headlines