European Parliament Library

France :, Lessons from Past Fiscal Consolidation Plans, Edouard Martin, Irina Yakadina, Irina Tytell

This paper analyzes past fiscal consolidation plans and their outcomes in France. It covers the early attempts at fiscal consolidation in the 1970s and the 1980s (Plan Barre and Virage de la Rigueur), the first episode of medium-term fiscal consolidation in 1994-97 ahead of joining the European Economic and Monetary Union, and the fiscal consolidation under the corrective arm of the European Stability and Growth Pact in 2003-07. These experiences offer important lessons for the future, suggesting that binding constraints help focus policymakers’ attention and justify their actions; spending restraint needs to be shared and coordinated across all levels of government; and appropriate deficit targets could help in enforcing budgetary discipline in good times
Table Of Contents
Cover Page; Title Page; Copyright Page; Contents; I. Introduction: Factors Underlying the Need for Fiscal Consolidation; 1. General Government Balance and Gross Debt, 1960-2009.; 2. General Government Revenues and Expenditures, 1960-2009; 3. Spending and Balances by Subsector of the General Government, 1960-2009; 1. Central Government, Social Security, and Local Governments; 4. Attempts at Fiscal Consolidation, 1970-2010; II. Early Attempts at Fiscal Adjustment; A. The Plan Barre; B. The Virage de la Rigueur; III. A First Attempt at Medium-term Fiscal Consolidation, 1994-97
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (45 p.)
Specific Material Designation
Form Of Item

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