Fiscal councils in EU boost budget efficiency and stability
The research looked at how independent fiscal councils in EU countries help monitor fiscal rules and improve budget policies. They use methods like content analysis and statistical data to show that these councils enhance budgetary efficiency and stability. Some countries have fully independent councils, while others have partial government involvement. Having multiple independent councils can positively impact fiscal parameters. The councils' recommendations are not binding, but they play a crucial role in overseeing national budget policies in the EU. It is suggested that giving them more control over national budgets could further improve fiscal stability without increasing EU federalism.