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Speech by Network Chair: The Fiscal Compact as a Part of National Economic Policy Making

Speech by Network Chair: The Fiscal Compact as a Part of National Economic Policy Making
In his address, he highlighted the contribution of the Fiscal Compact in giving greater prominence to the preventive role of fiscal surveillance and monitoring by national IFIs according to a set of common principles. He also stressed the importance of strong national institutions as a prerequisite for effective fiscal policy. When national institutions and parliaments are able to play their respective roles in the budgetary process, rules and surveillance by the EU become less necessary and fiscal decisions are no longer seen as an imposition from the centre. (for more information, click here, watch the video online here).

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