Ewolucja reguł fiskalnych zawartych w korekcyjnej części Paktu Stabilności i Wzrostu
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THE EVOLUTION OF FISCAL RULES IN THE CORRECTIVE ARM OF THE STABILITY AND GROWTH PACT
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Fiscal crisis in the EU revealed the ineffectiveness of the methods of coordination and supervision of fiscal policies conducted by the member states. The last revision of the Stability and Growth Pact in 2011, including its corrective arm, introduced many corrections to the application of fiscal rules. The adjustment of the fiscal rules promotes their greater flexibility, takes into account the medium-term objective (MTO) of fiscal policy pursued by member states and increases the probability of use of sanctions for non-compliance. The strength of fiscal rules changes however, will depend on the automatically imposed sanctions and on proper implementation of the rules into the national regulations.
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