Word: fiscal
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...such, the question to ask is not whether Greece ought to receive economic support, but rather from where it should be coming. Interpreting EU treaties in such a way that allows rich member-countries to bail out poorer ones is a step toward integrated eurozone fiscal policy as it necessitates the coercion of the poorer countries’ fiscal policymakers. Although austere German inflation-hawks might disagree, any interventionist French politician-turned-economist would gladly proclaim that fiscal policy is inherently, and rightly, subject to political forces. Indeed, in that country, unlike in Germany and the U.S., elected politicians dictate...
...precisely because such marked differences in sentiment would have to be overcome that even bailing out Greece (or any other eurozone member) with eurozone money would be more than just the small step toward centralized fiscal policy that it may appear to be. It would also be a very large step toward political union—a goal that the EU must not reach too far for until it attains the approval to do so from the popular ballot on which its authority rests...
...that does not entirely sacrifice Greek sovereignty or reach beyond the limited powers granted the EU. Giving Greece this slap on the wrist for its economic mismanagement would also encourage other troubled eurozone economies that may be counting on the cushion of Franco-German bailout to finally institute meaningful fiscal and economic reforms of their...
European voters have not authorized the EU to become an integrated political union that can determine a common fiscal policy for eurozone members. As such, it should not be in the power of European leaders to extract from EU treaties the ability to do so; rather, they should allow the IMF to lead the charge as it is an institution designed to do just that. Difficult as it may be, the EU must ensure that whatever steps it takes toward stronger economic union are not yet dependent on strengthening its political...
...kind of decisions that the government now faces are not only factual or empirical, but moral as well, the speakers said. The church can—and should—take a stance on issues of fiscal responsibility and ethics, to participate in the progressive collectivist response to the crisis...