the EU would control member states' fiscal policies, for example setting tax rates and stopping countries from running budget deficits?
Stopping countries from completely running budget deficits would be an insanely suicidal thing that most sane politicians would block. Ensuring that they run a surplus at times of growth to pare back debts in order to make future debts during downtimes workable would be something I'd be very happy with.
Greece got into trouble because successive govts were reckless when their economy was growing, it's stayed in trouble because the leading EU members were being stupid and Varoufakis was a prat about it.
So my "something else" is that regulations on fiscal policy I'd be fine with, but I'd be fairly confident that a stupid regulation like that wouldn't be passed in the first place.
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timeasmymeasure
no subject
Date: 2016-06-23 06:29 pm (UTC)Stopping countries from completely running budget deficits would be an insanely suicidal thing that most sane politicians would block. Ensuring that they run a surplus at times of growth to pare back debts in order to make future debts during downtimes workable would be something I'd be very happy with.
Greece got into trouble because successive govts were reckless when their economy was growing, it's stayed in trouble because the leading EU members were being stupid and Varoufakis was a prat about it.
So my "something else" is that regulations on fiscal policy I'd be fine with, but I'd be fairly confident that a stupid regulation like that wouldn't be passed in the first place.