Economics, Econometrics and Finance
3 years ago

European Union faces fiscal risks threatening financial stability in the short term.

1 view
Economic Science, education and the real economy: Development and interactions in the digital age
The Fiscal Risk: An Indicator Of The Financial System'S Stability
Aneliya Radulova

Paper Summary

Fiscal sustainability in the European Union is linked to fiscal risks. Previous indicators were good for long-term risk assessment, but recent events show they're not enough. A new approach is needed that looks at both long-term and short-term risks. The European Commission uses specific indicators to identify fiscal risks with different timeframes. From 2015 to 2019, medium-term risks in EU Member States were studied. The main challenges to fiscal sustainability in Europe are outlined in this paper.

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