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在自主财政政策架构下,“成本外溢”机制促使欧盟成员国具有强烈的预算赤字动机,“顺周期”财政行为则弱化财政的“内在稳定器”功能,欧盟有建立财政约束规则的必要性。《马斯特里赫特条约》确立了欧盟的财政趋同标准,《稳定与增长公约》规定了具体的和操作性较强的财政约束规则,其真正核心是强调财经纪律。2002年至2005年,德国财政赤字超标导致欧盟财政约束规则面临前所未有的执行危机;全球性金融危机爆发催生了德国财政运行“拐点”的出现,德国的赤字率、债务率再度陷入“超标”困境。2010年,德国调整政府支出与收入结构,推出若干适应欧盟财政约束规则的改革措施。
Under the framework of an independent fiscal policy, the “cost spillover” mechanism has prompted the EU member states to have a strong budget deficit motivation, “pro-cyclical” fiscal behavior weakens the fiscal “internal stabilizer” function, and the EU has established a fiscal Necessity of binding rules. The Maastricht Treaty establishes the EU’s standard of fiscal convergence. The Stability Pact stipulates specific and operational rules for fiscal restraint. The real core of the Treaty is the emphasis on financial and economic discipline. From 2002 to 2005, Germany’s excessive fiscal deficit led to the unprecedented implementation of the EU financial restraint crisis. The outbreak of the global financial crisis has led to the emergence of the financial crisis in Germany. The deficit rate and the debt ratio of Germany again fall into the “ Exceeds ”dilemma. In 2010, Germany adjusted its government expenditure and income structure and introduced a number of reform measures to adapt to the EU’s fiscal restraint rules.