Fiscal Rules - Limits on Governmental Deficits and Debt

1. Front Matter

   Pages i-xii

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2. General Report

   1. Front Matter

      Pages 1-1

      PDF

   2. Fiscal Rules: Legal Limits on Government Deficit and Debt

      • Fred L. Morrison

      Pages 3-20

3. Special Regional Report

   1. Front Matter

      Pages 21-21

      PDF

   2. The Crisis of the Economic and Monetary Union and Its Solution (or Dissolution?)

      • Michal Tomášek

      Pages 23-42

4. National Reports

   1. Front Matter

      Pages 43-43

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   2. La dette publique dans le système constitutionnel et fédéral belge

      • Dimitri Yernault

      Pages 45-84

   3. The Process of Budgeting and Issues of Indebtedness in the Czech Republic

      • Hana Marková, Martin Kopecký, Radovan Suchánek

      Pages 85-100

   4. Objects and Procedures of Budgetary Planning and Limits to Borrowing (“Debt Brake”) in the Federal Republic of Germany

      • Hermann Pünder

      Pages 101-138

   5. Limitations on Government Debt and Deficits in Greece

      • Athanasios D. Tsevas

      Pages 139-172

   6. From the Ideological Neutrality to the Neoclassical Inspiration: The Evolution of the Italian Constitutional Law of Public Debt and Deficit

      • Edmondo Mostacci

      Pages 173-204

   7. Limitations on Government Debt and Deficits: The Netherlands

      • Michal Diamant, Michiel L. van Emmerik, Gert Jan Geertjes

      Pages 205-239

   8. Limitations on Government Debt and Deficits in Romania

      • Simina Elena Tănăsescu, Simona Gherghina

      Pages 241-265

   9. The Swiss “Success Story” of Sustainable Public Finance: Debt Restrictions and Budgeting Processes in the Swiss Confederation

      • Agata Zielniewicz

      Pages 267-297

   10. Limitations on Government Debt and Deficits in the United Kingdom

       • Tony Prosser

       Pages 299-323

   11. Limitations on Government Debt and Deficits in the United States

       • Ved P. Nanda

       Pages 325-347

5. Back Matter

   Pages 349-353

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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.

• Budgetary Planning and “Debt Brakes”
• Budgeting and Issues of Indebtedness
• Crisis of the Economic and Monetary Union
• European Union
• Eurozone
• Governmental Deficits and Debt
• International Monetary Funds
• International treaties
• Legal Frames of the Financial System
• Process of Budgeting
• Public deficit and debt

• University of Minnesota Law School, Minneapolis, USA

  Fred L. Morrison

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. 

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