This article analyses the concept of public debt sustainability starting from the text of the Treaty of Maastricht, and it criticizes the Annex Protocol where it is specified the two "reference values": a public deficit/GDP ratio of 3% and a public debt/GDP ratio of 60%.
Pasinetti, L. L., European Union at the End of 1997: Who is within the Public Finance ‘Sustainability’ Zone?, <<QUARTERLY REVIEW. BANCA NAZIONALE DEL LAVORO>>, 1998; (204): 17-36 [http://hdl.handle.net/10807/81082]
European Union at the End of 1997: Who is within the Public Finance ‘Sustainability’ Zone?
Pasinetti, Luigi LodovicoPrimo
1998
Abstract
This article analyses the concept of public debt sustainability starting from the text of the Treaty of Maastricht, and it criticizes the Annex Protocol where it is specified the two "reference values": a public deficit/GDP ratio of 3% and a public debt/GDP ratio of 60%.
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