Tuesday July 14, 2020

Budgeting for absolute power

Germany’s plan to create a European budget commissioner with the authority to rewrite national budgets smacks of hegemony and hubris.

15th August, 2015
2
German finance minister Wolfgang Schäuble is pushing to establish a European budgetary commission.

The German insistence on rules to govern the euro area has little to do with more effective functioning of this ill-considered union. It has everything to do with the German interests.

Not so long ago, the German authorities insisted that the Stability and Growth Pact did not apply to them. Today, they believe that the same rules, if forcefully enforced, would protect the German taxpayers from paying the bills of errant nations. Since 1991, when...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

Many of us have achieved a new life balance that might just be the real ‘new normal’

Sharyn McAndrew | 1 month ago

Property firms such as QRE are dealing with the coronavirus lockdown by trying to maintain some normality in their day-to-day business

Conor Whelan | 2 months ago

Hardline opposition to EU solidarity in funding the cost of Covid-19 is driven by German allergy to ‘imprudent’ spending, and by Dutch politicians fearing the transfer of funds to southern countries would provoke a far-right backlash

Barry J Whyte | 3 months ago