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Conclusion

from Part II

Published online by Cambridge University Press:  07 April 2022

Brady Gordon
Affiliation:
University of British Columbia, Vancouver; Blake, Cassels & Graydon LLP
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Summary

The book ends with two conclusions: First, Member State fiscal sovereignty is a permanent constitutional constraint upon the application of fiscal federalism theory in the European Union. Second, hard budget constraints and market discipline are indispensable for the guiding principles of price stability and fiscal discipline in a decentralised federation bound by the fiscal sovereignty of its Member States. In sum, the model chosen for European fiscal federalism must preserve the fiscal sovereignty of its constitutional democracies, and it must have market discipline under hard budget constraints. As for the selection of an appropriate model for EU fiscal federalism, this book proposes that three constitutional tests for fiscal sovereignty identified in Chapter 1, and the five determinates of fiscal discipline identified in Chapter 8, provide an intersecting set of criteria for determining which models of fiscal federalism are compatible and implementable within the boundaries of the European legal order.

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Publisher: Cambridge University Press
Print publication year: 2022

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  • Conclusion
  • Brady Gordon
  • Book: The Constitutional Boundaries of European Fiscal Federalism
  • Online publication: 07 April 2022
  • Chapter DOI: https://doi.org/10.1017/9781108909037.010
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  • Conclusion
  • Brady Gordon
  • Book: The Constitutional Boundaries of European Fiscal Federalism
  • Online publication: 07 April 2022
  • Chapter DOI: https://doi.org/10.1017/9781108909037.010
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Conclusion
  • Brady Gordon
  • Book: The Constitutional Boundaries of European Fiscal Federalism
  • Online publication: 07 April 2022
  • Chapter DOI: https://doi.org/10.1017/9781108909037.010
Available formats
×