This is well written, however I do wonder isn't it up to the local eu governments to decide how to tackle their deficit? Is your point rather, yes but because of the EU rules you are less likely to see excessive deficits? Not sure the eu does anything for the excess austerity. For example the massive German surplus 😂
Well, each government can design its own plan to reduce deficits but the plan has to be accepted by Brussels. If it is rejected by Brussels the country may still be fined. We had that situation a couple of years ago in Italy where the Coalition government of Lega and Cinque Stelle tried to reduce deficits too little and it ended in a standoff between Brussels and Rome. In the end Brussels won.
This is well written, however I do wonder isn't it up to the local eu governments to decide how to tackle their deficit? Is your point rather, yes but because of the EU rules you are less likely to see excessive deficits? Not sure the eu does anything for the excess austerity. For example the massive German surplus 😂
Well, each government can design its own plan to reduce deficits but the plan has to be accepted by Brussels. If it is rejected by Brussels the country may still be fined. We had that situation a couple of years ago in Italy where the Coalition government of Lega and Cinque Stelle tried to reduce deficits too little and it ended in a standoff between Brussels and Rome. In the end Brussels won.