Are Maastricht Criteria Guarantee for the Future of the European Union? Germany - United Kingdom - Spain - Greece Analysis (1998-2018)

Year 2021, , 383 - 406, 25.01.2021

Çağdaş Bektaş , Özgür Saraç

https://doi.org/10.17233/sosyoekonomi.2021.01.19

Cited By: 1

Abstract

Maastricht Criteria which are actually known as Convergence Criteria can be regarded as the most popular embodiment of fiscal policy rules. Fiscal rules not only put limits on politicians who are using public resources but also target improving macroeconomic performance of countries. Maastricht Criteria can be an example for this second type and consist of five rules. Two of these rules carry fiscal characteristics while other three rules have economic characteristics. When governments do not obey these rules, in other words, when irregularity occurs, they face various sanctions. In this study, twentyyear performance of four selected countries are examined. In this respect, deviations (if any), are taken into account together with their reasons and the implemented sanctions are analysed. According to the results, it is discussed whether Maastricht Criteria can be a kind of guaranty for the future of the European Union or not.

Keywords

Rule Based Fiscal Policy, Fiscal Rules, European Union, Economic and Monetary Union, Maastricht Criteria, Stability and Growth Pact

Maastricht Kriterleri Avrupa Birliği’nin Geleceğinin Teminatı mı? Almanya - Britanya - İspanya - Yunanistan Analizi (1998-2018)

Abstract

Aslında birer Yakınsama Kriteri olma özelliği gösteren Maastricht Kriterleri, kurallı maliye politikasının en somut ve bir o kadar da popüler örneği konumundadır. Mali kurallar, kamusal kaynakları kullanan politikacıları sınırlandırma özelliğinin yanı sıra makroekonomik performansın iyileştirilmesini hedef alır. İkinci tipe örnek olan Maastricht Kriterleri, ikisi mali ve üçü iktisadi özellik gösteren toplam beş kuraldan oluşur. Devletlerin sergilediği performansların kurallara uymaması, yani yaşanan kuralsızlık, çeşitli yaptırımlara tabidir. Çalışmada seçilen dört ülkenin yirmi yıl boyunca sergilediği performanslar incelenmiştir. Buna göre, varsa oluşan sapmalar, nedenleriyle ele alınarak ne gibi yaptırımlar uygulandığı araştırılmış ve ulaşılan bilgiler ışığında Maastricht Kriterleri’nin Avrupa Birliği’nin geleceği için bir tür teminat olup olmadığı tartışılmıştır.

Keywords

Kurallı Maliye Politikası, Mali Kurallar, Avrupa Birliği, Ekonomik ve Parasal Birlik, Maastricht Kriterleri, İstikrar ve Büyüme Paktı

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