Naslov
Public debt and fiscal risks in the European union

Autori
Bajo, Anto ; Primorac, Marko

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Proceedings of the 22nd International Academic Conference (IISES) / Rotschedl, Jiri ; Cermakova, Klara - Prag : International Institute of Social and Economic Sciences, 2016, 206-218

ISBN
978-80-87927-21-2

Skup
International Academic Conference (22 ; 2016)

Mjesto i datum
Lisabon, Portugal, 22.03.2016. - 25.03.2016

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
public debt; fiscal risks; EU

Sažetak
At the beginning of 2015, the Statistical Office of the European Commission – Eurostat – for the first time released data on contingent liabilities and non-performing loans of European Union (EU) member states. Contingent liabilities include guarantees, liabilities related to public-private partnerships and liabilities of public corporations that are controlled by the state, but excluded from the statistical coverage of general government. The scale of the contingent liabilities of member states reveals a completely new image of their indebtedness and exposure to fiscal risks, and also raises the issue of the need to redefine the Maastricht fiscal criteria. It is obvious that member states – under pressure from budgetary restrictions (in line with the Maastricht criteria) – are creating liabilities that certainly affect the growth of public debt. At the same time these liabilities were only until recently beyond the reach of Eurostat.

Izvorni jezik
Engleski

POVEZANOST RADA