Word: fiscales
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...triumph for supranational organizations and international unity. Banded together in a monetary and trade-based union, the EU experienced rapidly rising living conditions and surprisingly harmonious relations. The last few months have shown, however, that the EU’s economic foundations were fundamentally flawed. Monetary and fiscal policy are deeply related, so a monetary union in which each subunit pursues its own fiscal policy is destined to fail. The best and most practical solution for the European Union is to pursue deeper political and fiscal integration, because the status quo is untenable...
Basic macroeconomics teaches that fiscal and monetary policy are related; therefore, governments and central banks must sometimes be able to take wide-ranging action on both during crises. As George Soros wrote in the Financial Times on Monday, “When the financial system is in danger of collapsing, the central bank can provide liquidity, but only a Treasury can deal with problems of solvency.” Europe is now experiencing an unfortunate situation where member countries can create unsustainable deficits or be home to failing financial systems and for this reason place the entire economic system...
...major step the EU must take is to develop more political and fiscal integration. The optimal economic solution would be a fully integrated fiscal system in which a central European government made decisions in a structure similar to the U.S. Thus, monetary and fiscal policy would be coordinated on the same scope, and Europeans would not have to worry about a single member state bringing down the entire economy, just as no one worries about California’s fiscal problems hurting the stability of the dollar. European countries, accustomed to full sovereignty, are used to full independence, and therefore...
...Senate and the city manager, as well as the initiative, the referendum and the recall. The latter, of course, transformed Arnold Schwarzenegger the movie star into Arnold the Gubernator when the actor became California governor after voters chose to recall Democrat Gray Davis. (Read "How California's Fiscal Woes Began: A Crisis 30 Years in the Making...
...give Beck some credit. The comment in question served as a segue into an indictment of Republicans who broke campaign promises and voters’ trust. But even if such language is simply a starting point for a more nuanced position on adhering to fiscal responsibility, it matters little. The sound bite is recorded, the message sent, and the damage done. Though to be fair, Glenn Beck is neither a politician nor a strategist. He does not need to concern himself with electioneering or governing. He bills his eponymous show as “the fusion of entertainment and enlightenment...