Fiscal Rules - Limits on Governmental Deficits and Debt

This book examines legal limitations on government deficit and debt and its impact on the ability of nations to provide services to their residents. It studies constitutional and statutory limitations, as well as those imposed by international treaties and other instruments, including those of both the European Union and the International Monetary Fund. The book contains a general report examining the fiscal rules that govern the budgets and expenditures of nation states. The general report is followed by a special report which covers the limits imposed by the European Union and by the smaller group of countries constituting the Eurozone. Ten national reports, describing the limits in their respective countries, form the basis of the general report. These countries include eight members of the European Union (five of which use the Euro and three of which do not), one other European state and one non-European state. The reports include two countries in which constitutional debtbrakes limit national deficit and debt.

Covers the limits imposed at the national level, regional and municipal levels Includes limitations resulting from constitutions, international treaties and other instruments Carefully defines terminology and provides historical context?

Autorentext

Fred L. Morrison****is the Popham Haik Schnobrich/Lindquist & Vennum Professor of Law at the University of Minnesota Law School in Minneapolis, Minnesota, USA, where he teaches constitutional law and international law, where he has twice served as Interim Dean. In the 1970's was the Research Director of the State of Minnesota's Constitutional Commission, which prepared the text of the current state constitution. He has served as the Counselor of International Law for the United States Department of State.

Inhalt
Preface.- About the Authors.- Part I. General Report.- Chapter 1. Fiscal Rules: Legal Limits on Government Deficit and Debt; Fred L. Morrison.- Part II. Special Regional Report.- Chapter 2. The Crisis of the Economic and Monetary Union and its Solution (or Dissolution?); Michal Tomáek.- Part III. National Reports.- Chapter 3. La dette publique dans le système constituionnel et federal belge; Dimitri Vernault.- Chapter 4. The process of budgeting and issues of indebtedness in the Czech Republic; Hana Maroková.- Chapter 5. Objects and Procedures of Budgetary Planning and Limits to Borrowing (Debt Brake) in the Federal Republic of Germany; Hermann Pnder.- Chapter 6. Limitations on Government Debt and Deficits in Greece; Athanasios D. Tsevas.- Chapter 7. From Ideological Neutrality to Neoclassical Inspiration: The Evolution of the Italian Constitutional Law of Public Debt and Deficit; Edmondo Mostacci.- Chapter 8. Limitations on government debt and deficitsthe Netherlands; M. Diamant, M. L. van Emmerik, and G.J.A. Geertjes.- Chapter 9. Limitations on Government Debt and Deficits in Romania Simina; Elena Tnsescu and Simona Gherghina.- Chapter 10. The Swiss Success Story of Sustainable Public Finance: Debt Restrictions and Budgeting Processes in the Swiss Confederation; Agata Zielniewicz.- Chapter 11. Limitations on Government Debt and Deficit in the United Kingdom; Tony Prosser.- Chapter 12. Limitations on Government Debt and Deficit in the United States; Ved P. Nanda.- Appendix - The Questionnaire for National Reporters.<p