Malcolm Sawyer: The Consequences of Fiscal Compact for the Future of the EU

malcolm sawyer

[infobox title=’Note’]English part starts around 04:00


[dropcap]M[/dropcap]alcolm Sawyer is an emeritus Professor of Economics, University of Leeds. In this debate he points out the weaknesses of the concept of “structural budget” and “potential output” as well as indicates adverse consequences of pursuing a strict fiscal policy of balancing the budget.

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Krytyka Polityczna
Krytyka Polityczna (Political Critique) is the largest Eastern European liberal network of institutions and activists. It consists of the online daily Dziennik Opinii, a quarterly magazine, publishing house, cultural centres in Warsaw, Łódź, Gdańsk and Cieszyn, activist clubs in a dozen cities in Poland (and also in Kiev and Berlin), as well as a research centre: the Institute for Advanced Study in Warsaw.