Eurozone needs central stabilisation fund to secure fiscal stability – ECB research
Unlike other monetary unions, the region’s federal budget plays a very limited role
The eurozone requires a central fiscal mechanism to stabilise public finances, says research published today (April 23) by the European Central Bank (ECB).
The research, conducted by Nadine Leiner-Killinger and Carolin Nerlich, acknowledges the progress made by the region over the last years, but stresses debt remains high and is unevenly distributed across countries.
In 2018, while public debt in some countries had declined to less than 60% of GDP, in other economies it was recorded above 90%
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